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South Central Iowa | That sounds like a reasonable way to approach it. Appreciation and inflation can often look like one another, but I know that our own farms have an annual growth rate of 14% over the past 15 years. That is well beyond what I would consider appreciation and far out strips the actual capitalization rate, which is about 4% right now with us farming it; a tenant farmer might only yield 2.8-3.2%.
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The Real Subsidy
