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cropsey, il 61731 | Rent will not come down until the bubble bursts. And it will. It's hard to say what the 'pin' will look like - if we did we'd be getting paid a lot for our advice. Right now lots of new landowners, many just inheriting something they had no previous connection to, and they all are thinking lottery. Sure there are folks that calmly act like this is all good and well worth it, but in the end there will be a bunch of folks with payments on $10K land while it's selling for $2500. Don't think for a minute that high crop prices are not doing their job - everyone and their brother is trying to grow corn and soybeans. We'll have a glut eventually and I think it will be pretty tough - the sense of entitlement to high prices is sinking in.
In the mean time, it's best to keep costs as low as possible so you can weather the high rents and with not quite as stellar price potential. For land lords to change their mind the whole thing has to fall apart.
Unfortunately, what we are remaking the reason money stayed away from agriculture in the past - though it's not like we can do anything about it. | |
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2013 rent bids
