deep SW On. | NE Ridger - 9/3/2024 17:54
But land auctions sure haven't backed off much around here. I think it's going to take more than one year of low prices to burn through equity.
Grinding weeds and thinking their is a lot of farms that owned 1,000 + acres before the big run up in price and a lot of them who have been around forever have been conservative in spending their cash on machinery or real high land prices/rents. One would be surprised how many have $50 + mil. equity (of course cdn. so $33 mil. usd.)
The "new tigers" who pay a 25-50% premium to rent ground, own very little and lease most of their machinery will feel pain soon
Overall Idk anybody who would be in trouble in my area if prices stayed here for a few yrs. |