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SE MN | What I've been told of the 80s is that everyone was heavily leveraged because that was the only way to do anything and it had been working great for a while, then below cop grain prices for years and daily fire sales happening. Price of land will not drop without fire sales happening and you will only see fire sales when farming is unprofitable with no hope for profitability in the future. Everyone always forgets that the times that land price is down sharply is the same time that they will be unable or too scared to buy, that is why it is dropping. | |
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State of Ag Banking
