My observation is that the price of farmland runs in long term cycles. In 1951, my dad bought his farm, the interest cost was less than to rent a house in town. He was told he'd go broke (in the expected recession.). In the mid60's, my cousin was buying land because he could pay for it with the cash flows in 4-5 yrs. In the mid 70's, partly due to inflation, people believed "If I can just pay the interest, the land will make me rich". In the early 80's, those folks went bankrupt. Today, in mid Ohio, good land is selling for $13-14 k/Acre. Cash flow for grain is about $500./Acre, so break even is 26-28 yrs. I don't know the nos. for pork or dairy. Prices are up because farming HAS BEEN good (and farmers don't know what else to do with the money). In the past, when land prices got high, especially on credit, they soon got cheaper. Learn your craft, and be patient.
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Today's Featured Article - An AC Model M Crawler - by Anthony West. Neil Atkins is a man in his late thirties, a mild and patient character who talks fondly of his farming heritage. He farms around a hundred and fifty acres of arable land, in a village called Southam, located just outside Leamington Spa in Warwickshire. The soil is a rich dark brown and is well looked after. unlike some areas in the midlands it is also fairly flat, broken only by hedgerows and the occasional valley and brook. A copse of wildbreaking silver birch and oak trees surround the top si
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