Whats this!!!! Farmland prices rise faster than some Manhattan and London apartments

Discussion in 'Economics' started by S2007S, Feb 21, 2007.

  1. Are you serious????

    we have been looking at some 100+ acre lots in the lower midwest. The avg price has been $1k/acre.

    I could easily disappear into the abyss for 100 an acre :D
    #11     Feb 21, 2007
  2. <i>"There is a ton of land, were not running out of space in our lifetimes"</i>

    Who owns that land? Do you realize how much is BLM and state / federal wilderness that can never be developed?

    There has never been a time, not once in the history of this country where land prices have declined from normal ascent of value. That does not include brief periods of wild speculation on certain plots... I'm talking about buy & hold for a decade or three.

    As for carrying costs, that depends. Standing timber takes cost out of the equation. Aerable land can be rented for agriculture... and rent in most places is going up considerably.

    I don't deal with commercial plots, so cannot comment on that aspect.

    Given a choice of buying raw land or Dow Jones stocks right now, I'd take the former every single time. There have been many decade blocks of time where stocks went nowhere or lower. Raw land has never gone backwards in value over any measurable period of time. Find a way to handle any carry costs, and it's 100% risk free.
    #12     Feb 21, 2007
  3. <i>"We still have much North and South Texas land at less than $100/acre basis with (producing) water and (producing) mineral rights....some for sale....some not yet. Bids?"</i>

    Yes... please email me austinp44@yahoo.com with details. Thank you!
    #13     Feb 21, 2007
  4. Im my case taxes and maintenance are jack-squat compared to the income/appreciation.

    Though, at this point I'm not sure I'd be a buyer unless of course one had a plan to improve the land beyond the passive income/appreciation that it produces. And in most cases the grazing/farming and Oil/Natty Gas rights are at the WAY upper end of the historical range anyway.

    #14     Feb 21, 2007
  5. are you financing these things or paying cash
    #15     Feb 21, 2007
  6. BASIS....On the books at 100 per. Not for sale for. South Texas scrub brush w/rights is 4-5K per.

    #16     Feb 21, 2007
  7. Ahhhhhhh
    #17     Feb 21, 2007
  8. Heck with the leases... I want ST whitetails, wild hogs and bass ponds!
    #18     Feb 21, 2007
  9. Plenty of those.

    Wild Turkey, Peacocks, Quail, Ducks, Geese, Rattlesnakes, and some ProngHorn too.


    #19     Feb 21, 2007
  10. There was never a farm crisis till Carter. He set the American farmer back 30 years with 15% rates and the grain embargo. They are just now getting back to reasonable roi. Smoke that Willie Nelson!!!
    #20     Feb 21, 2007