60 year cycle
LEE WESTERGAARD 03/10/2011 @ 4:14pm
Gann believers make a pretty good case that we are making a 60 year high in commodities this year with a pretty good fall in prices to follow. My Granfather ,too bot in the mid 20's and I now own that farm but he went thru 10 tough years and had to sell many prise possesions and did subsistance living just to pay the taxes.-Where are taxes going to go now that almost all gov't s are broke? I survived the 80's with a farm bot in 1980 but would have been far better off to keep my powder dry and buy 3 times the acres for the same money in 1985. We're set up for a similar senario, everyone is just too bullish.
marvin meyer 03/09/2011 @ 8:14am
What you pay for farmland depends on a lot of different circumstances and your individual ideas and goals.
If you have money in the bank, a desire of the family to continue farming, can pay in full, then these prices make sense. At todays interest rate that alternative investments pay, then these prices make sense.
If you have to borrow the money, then this price may not look as good. If you are uncomfortable with debt, then these prices do not make sense. If the land is next to your present operation,and will never be available in your lifetime then it makes sense.
It also depends on how much inflation that we have.
My parents paid $280 an acre for land in 1929 at the top of that inflation. Using an inflation calculator, that land should bring around $3500 today. I still own that land and would not sell for that amount. In that instance, they didn't pay too much
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