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Hooker Twp,Ne | Yes interest rates, bank examiners,and several banks where sucking air. Even federal land bank was in a hurting way. Going through FHA was a nightmare. Guys were using land equity to build their operations and all of a sudden 18% interest and land values dropped in half or more. Then over 40% debt to asset ratio and banks wanted out. Got ugly and unless you were a good talker with FHA and bankers you were SOL. Some guys just got tired fighting it. | |
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It's not all inflation
