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NW Montana | I agree with you guys that land prices are supported by a lot of factors, rent and profitability are just 2.
Some areas could have development, recreation, prestige, location, and other factors that support the price. Like other markets emotion plays into value as much as anything.
A healthy economy outside of Ag will support these prices for a while as the possibility of appreciation and big profits is still irrationally in peoples heads.
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Farmland next to join deflation slide
