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Goff Kansas | just a young man here, but do have an opinion. will we really repeat the 80's mistakes.. are there not a few safegaurds in place now we did not have back then.. Chapter 11 or 13 (can't remember which) in which the farmer has more control over the restructuring of the bankrupcy. Crop insurance, while back then, many went without. does anyone know of too many farmers that go without it now, and if they do, they can probably afford to do with out it anyway.. Third, in talking to bankers, they suggest that much of the land now is in the hands of people with deeper pockets, or they have a bigger chunk of it paid off before the game begins.. will the farmcredits or other banks jump to foreclose on land, knowing that in the 80's if they would have just stuck it out, they probably would have been better off. Now i am not saying land will not go down. honestly i don't see how it can't.. i firmly believe commodities will retreat in price, while inputs will probably not.. i can see a day, and probably not too far in the distant future, where it will not make sense to plant a crop, for inputs will be to high.. land will have no where to go but down.. but at the same time, i think there may be too many safegaurds in place to probit the liquidation of land as seen in the past.. "Are we not in a time of unpresidented profitability already?" Brink of disaster?? a little overblown i think..
just my 2 cents though. | |
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Bears and Bulls on Land Prices
