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| What do you guys think about the future of farm land prices? Purdue University says land prices in Indiana have gone up 55% in past 5 years. That equals 11% interest per year for past 5 years. Where else you gonna get "interest" like that? Then add high grain/oil seed prices and farm land at this time does have quite a bit going for it.
Purdue annual survey says the professionals they send questionaires to expect farm land prices to keep going up for the next several years.
Last two auctions in my area had tillable land going for 4800 and 4300 dollars per acre. This land was average and certainly not the best.
Purdue's latest report has average Indiana farm land going for $3688/acre but they caution you to get a local expert to better determine value in your specific area. I expect the best "local expert" is derived from a few auctions in a given area !!
Probably my biggest concern is for the world's booming economies to nosedive in the near future. Yet, governments can keep a sick economy going artificlally for a long time before the bust.
Don McCullough | |
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Farm Land prices going higher?
