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SD | Your dad probably farmed through the 80's and he remembered what could happen.
Buying ground right now is quite risky if it's at elevated prices. It puts a strain on your working capital, unless you mortgage other ground for it (which means you could lose more ground if things head south).
You have to run the numbers to see if it's worth locking up ground on a 20-30 year mortgage or paying less to rent the ground short vs. long term.
If I were to buy ground right now, I would be shorting myself close to $100/acre and at todays prices that is too big of a risk.
Your father did a good job IMO if you still have the ability to farm AND buy land. | |
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Land values
