I think there are two main buyers for land, the spec and the neighbor with good, modern productive equipment and a paid for land base who is looking to expand often to bring a son or daughter into the business or just to increase economies of scale.  Current farm equipment and newer methods are very productive.

World finance, etc may put a damper on the spec but it is only going to make it more feasible for the neighbor to expand.

In this logic then I see the spec-fueled exponential rise in land tapering off as well it should. However the second, "neighbor" scenario will keep it from being a 1980 style bust in most areas. jmho.

Jim at Dawn