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| the turtle on the fencepost didnt crawl up there on his own. those paying $20k, $34k for farmland didnt get that cash after decades of selling $2 corn, occasionally $7 corn, it was off-farm income or other windfalls that built the war chest. some non farm sectors have been doing crazy well, if a farmer is somehow linked to it, money is no object. a broke startup farmer might see these gravity defying antics and figure `if they can pay it, so can i !`thats like going to a high roller casino in monte carlo on a penny ante budget. $25,000 land will never cashflow, it didnt at $12,000, but that doesnt mean it wont go to $50,000 or $100,000 one day. | |
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Kubs Den “ INSANITY OF PAYING 7% ON AN ASSET (FARMLAND) THAT ONLY EARNS 2%”
