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Ontario | yep even at $20k per acre i don't see land on the market for more then a month or 2. there was a 260ish acre(240 workable) farm just sold near me that included a old house and a few sheds, they were asking i believe $6.5 million and rumour has it they got $5 million. believe it was only listed for 2-3 months before selling.
seems to me those years of high priced corn and beans along with low interest caused many to get in over their head and now if interest rates suddenly go up they are pretty much done for. looking like a bubble just sitting there waiting to burst and it's not gonna be pretty when it goes | |
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Article - Falling prices, borrowing binge haunt Midwest 'go-go farmers'
