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Iowa | I think you have some very good points. Before my time but my Father always told me about the neighbor who kept borrowing against the land to make up for losses and keep things going.
Took a while but He eventually not only had to sell his farm but his elderly parents too.
On the other hand- I've watched a guy who didn't farm a lot/kind of struggled/ but did own some land. Several years ago He quit actively farming and rented his own ground out for what I assume is a good price. I have no idea if he did this all voluntarily or if the bank twisted his arm. Anyway- he was able to keep his owned land/gets a rent check for it/ and has a job in town. He seems happy and claims he makes a lot more now than when He was farming. | |
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Agriculture operating credit lines
