Posted 4/21/2017 18:13 (#5975687 - in reply to #5975400) Subject: What '70's were really like
sw ontario
dpilot83 - 4/21/2017 14:13
redoak - 4/21/2017 09:33
Last 10 yrs. has been greatest time in history to be a grain farmer....all parties end eventually
I would think the late 70's would be the greatest time ever from a ROI standpoint but they didn't have near as nice of cabs back then so maybe the last 10 years was the greatest time ever:).
Kinda --land just before Great Russian Grain Robbery '73 era "here" was + - 500 for previous 8 yrs.--then boom -land went up too as high $3,500 by'80 -interest went from single digits too as high as 23% in '81 era -late '70's frenzy of land buying as "this is last chance to ever own land".......'83 drought,poor crops ,land started dropping interest for land went way down too around 13% ,machinery dealers/mfg. heading into bankruptcy--equipment sales/auctions cheap--bought a new 5088 in '85 for 55% of list price.....crop/land prices kept dropping.... lots of land for sale at 40% off top.....also after '73 inflation was rampant-20-25% a yr. common,Canada had wage and price controls imposed.....there was gas shortage as middle east got pi$$ed at major oil companies only paying them $2-3 barrel for crude.......I think its a write up by a Texas University on Eugene Smith who was making $8k a day on land inflation and then when he got to 17,000 acres and interest went up he was losing $8k equity a day--do a GOOGLE SEARCH--mudsock Bob would have a lot too add.......in '70's some that just expanded/bought land early had more net worth than there parents had in 2 yrs. farming---others expanding at end of cycle mostly failed---around '85 on was good time too start farming--lots of similaraties to now----interest now goin to 6% would have same results as when it went from 10-20 % then...........timing/luck/caution/greed all played into it
I will just say it!!
