Record farm land prices are here again

[300 H and H]

Just had two farm tracts not far from here sell at auction. One brought $18K per acer, the second brought $20K per acer.
We bought 100 acers last June for $13K per acer and I thought then it was very high priced.
Either I am wrong, and new buyers are right and we will all happy, or I am right and they will be unhappier than I am by 40% lol.
In the coming years we shall see....

 

[Lenny]

Are the Chinese buying up out farm land?

 

[FrancSevin]

Real Estate is hot right now. All sectors.
No surprise that farmland is going up. Better than gold futures.

People with money are out there taking advantage.
My 80 acres, of scrappy Ozark scrubby and rocks, has had offers for every year I owned it. Most are close to what I paid, maybe 20% more. Sometimes less. Nothing on it but a shed and some 4-5 acres of cleared pasture, 240 Amps of power, and a graveled driveway. This year I got offers for twice what I paid. Fecund farmland has to be going higher.

 

[300 H and H]

Are the Chinese buying up out farm land?

Yes they are and at an increasing rate from what I have read.
I heard there is legislation in Congress regarding this. I do not know it's status however.

 

[Lenny]

Yes they are and at an increasing rate from what I have read.
I heard there is legislation in Congress regarding this. I do not know it's status however.

Probably on the back burner, even though it's a national issue. Meanwhile Senator Grassley sent me a email bragging about a bill take would make it easier for people to get hearing aids....good grief!