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NW Iowa land auction, $20000 an acre!
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D171066
Posted 12/8/2011 12:42 (#2091610 - in reply to #2089681)
Subject: RE: NW Iowa land auction, $20000 an acre!


You talk about the corn price for the next 20 years. The thing you might be forgetting is the amount of money that some of these farmers in that area have made in the last 10 years. There are a significant number of farmers in that area that haven't borrowed a penny in decades. They aren't borrowing near as much money on that land as you think. Might not be any. Another thing to consider is that alot of people in that area don't spend much money on entertainment and leisure. They know 2 things... work and church... People don't have any concept on how much CASH some of these people have. A lot of people are sick of the stock market and you can't make much at the bank either. They can at least farm that land and if its paid, for they won't likely lose it.
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