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cropsey, il 61731 | The enormous amount of money pumped into the economy has driven prices up on everything. I would guess the "flight to quality" applies to land and re estate in general. Perhaps when that money eventually runs out (as long as no new money gets pumped in) maybe increases slow down.
As a farmer, I can't see any of us needlessly bidding up land. Of course, there are bidding wars between 2 guys, but I think a lot of the price appreciation comes from outside bids driving the price up. Maybe a farmer ends up owning it, but he may have spent his life savings and maybe the next generation's savings getting it. | |
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Land and Home Prices Ahead?
