Posted 3/12/2019 09:10 (#7375295 - in reply to #7374344) Subject: RE: The sky is falling for the 47th time since last summer. NT
Getoffmylawn - 3/11/2019 20:58
I began farming in 1980, and that decade actually worked out pretty well. Of course I was crop renting 1800 acres, I didn’t have land debt either.
I wasn't even born until '87, so maybe I'm too wet behind the ears to say this and get much credit but even then you were dealing with the high interest rates. I've argued with my Dad it would've been better to buy land for $1000 in 1985 (when he did) and pay 12-14% interest than to buy 8,000/A land and only be paying 4-5% interest. It takes a lot more after tax dollars to pay for the second one.