MN | Reality speaks - 4/16/2024 21:13
so why did those guys in 1982-1987not jump in and buy up all of the ground that the lenders were trying to dump? Maybe they did the math and realized that their CD earning 9%+ was better than farm ground at 3% return and actually losing value. And they weren't making anymore land back then either.
Lots of farmers did buy land lenders we’re trying to dump around here, 400-600 per acre.The really big operations hired good lawyers and got write downs, and have quadrupled in size and are still buying land yearly, no matter the price. |