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Martinsville, Ohio | Just read where farmland in Iowa increased 32.7% last year,breaking the record of 1974 of 31, % in one year. Look what happened after 74. We lost half our farmers in the 80's. A young farmer today could be locked into the same trend, perhaps not. At least interest rates are cheaper but world economies are much less stable although I am sure we all thought they were unstable then. The oil embargo hit the year before 74 and soybeans went through the roof. This time we have ethanol and more population with a little more money and corn went through the roof.
I waited 40 years to buy the farm I always dreamed of. If I had it to do over again, I wouldn't wait that long. Young farmers have no more options than I had in 74 but each case varies greatly. It comes down the the person, his assets and his backing and banking.
Ed | |
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Is buying ground just for rich guys?
