
| When I came back to farm in 1995, with a 10% down payment, payments on a 20 year note would have been the same as rent at the time. But the banks were still reeling from the '80's and demanded 30%, and I didn't have that. So I got locked out. When I finally bought in 2013, the payments were more than rent, now they're somewhat less than rent. Today? Holy cow, the interest on a 70% note is 2.5x rent. A lot of old money went back into land, because it's the only thing they know. Will some get relieve of it? |