Posted 4/7/2021 07:16 (#8937566 - in reply to #8937475) Subject: RE: Thinking about ag economy
Cambridge, southwestern Nebraska
I can tell you lived through it. Your accounts are all accurate.
I started farming in the early 80’s. I remember land dropping in half. I had chances to buy some land at half price but didn’t have the money. Didn’t know how much farther it might go down. Barely hanging on as it was and I was fortunate I wasn’t paying high interest. I just got by with what I had. Had friends and neighbors that started just a few years ahead of me. They got caught in the high interest rates and land devaluation. Some didn’t make it. A lot of the ones that were left struggled for the next 20 years. Timing was everything.