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Glasgow, Ky | Might not be for now. If grain prices continue to go up and inflation does what it should based on cheap interest and money being shoved in the economy like nothing I have ever seen before that $9000 is going to look like a good deal in a year or two.
I am typically pretty conservative but I do remember buying a farm in the late 70's for $1,000 an acre. Most thought $600-$700 per acre was plenty for the farm. Lot of money back then but I was young and was going to get a piece of the pie. Got in a "cash flow" bind real quick...like 2 years later. Was wondering what I was going to do when a neighboring farmer came by and offered me $1,350 an acre. Didn't have to think too long on that one.
Moral of the story is I paid too much for it but there was someone out there who wanted it and could pay more. The blindhog found another acorn. I was just plain lucky. It had nothing to do with my knowledge of real estate, economics or anything else.
Wish I had it back now but it is not for sale. Probably would bring $5-6K per acre if auctioned off today. Are we entering a period where people will have money, want to buy good farmland to farm or as a hedge against inflation but none is for sale? | |
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Survival.
