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Red River Valley | I would disagree was in it from beginning to end mid seventies and by 80 you knew what was happening just that by then it was to late to do much but hunker down. Some did and were paying of debt as fast as they could, Some were buying higher prices swinging land deals on contract for deed, or leveraging to take advantage of the first small fall back in land prices.
we didn't just wake up one day and we all were in trouble it was a process of picking off some.
Some had reserves some didn't but everybody was loosing money, Most of those reserves (equity) was in land, equipment, and Infrastructure. well the first 25% was a buying opportunity the next 25% drop was not. | |
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All the 80's talk
