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Iowa | Not all of that land bought cheap long ago is paid off. Some of it is refinanced near today's market value. Like I said, unless they have some other ace in the hole, I'd be a little concerned. It's just one of the things I'm seeing that make me question the strength of land values in the face of difficult times. Sure, there are some who would have no problem paying today's market value for another farm if they are so inclined, but what happens if a larger number of farms show up on the market? How many buyers vs sellers at these levels? It usually seemed to me that land was over priced. I've been wrong about that most of the time, sort of like a stuck clock that is only right twice per day.... | |
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Question for the bankers
