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southern MN | $1.80 corn or 9+% intrest makes for a lot of overstretched farmers who thought they were being conservative.
When land prices drop it will be because it doesn't flow at all, and nothing else does either to cover it. Just like you can't see the tops the past few years, you won't be able to see the bottoms then, either.
What exactly will cause such a thing is a mystery, of course. Europe, Mideast-Isreal, China, USa ecconomy, who knows.
In our lifetimes the land across the road from me was valued at $600, 3500, 900, 11,000.
I'd have been a genuis if I had any money at the time to have bought it at $900, but - there was no money. I'd have been broke if I had bought it at $3500, as that put one at less than no money. As it is, I've got a good life and doing ok, so I'm good.
Wonder what the next valuation will be?
--->Paul | |
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We Must be Getting Close to the Top - Land
