Was on a field trip today for class talking to a guy that is an Iowa State graduate and an ex agronomy instructor. For the first time in a long time I heard some good news for believers. He felt that land prices were going to go back down soon based on a 100 year trend.
Just wondering if there were any researchers on here that have looked into it that would have any thoughts on it. I'm sure 90% of the farming population have lost hope by now but I suppose there's always a chance. Any input would be great.
Interesting, but as you know, nothing goes down. Here in the UK good growing land is around £6000 to £8000 per acre in Lincolnshire, I think thats about 9000 USD to 12000 usd / acre. What do you pay where you are?
I guess the interest rates is a good point. He was basing his argument off the 80's crisis with high interest.
My home area doesn't have the rich black soil and flat ground like a lot of Iowa so our prices range anywhere from 3000 to 5000 dollars an acre. Funny thing is is that's for productive row crop acres and you can turn around and sell timber here for $10,000 an acre to out of state hunters.