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WC MN | Excellent point ZM. All you have to do is look at an amortization schedule for a loan. There is a reason the housing market is better and why land prices have stayed higher, cheap interest has been a big player in this. You can afford to pay way more for a house or piece of ground if your interest is a low number. Now take that 3% to 6% and then to 9%. Put in 15% and see how much house you can afford or how many dollars per acre you can afford to pay for land. What does that do to a farms interest expense on operating money. Even going back to 6-8% interest would be a game changer in my opinion. | |
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Talked to a banker.....
