Posted by oldtanker on November 15, 2018 at 05:47:27 from (66.228.255.59):
In Reply to: Farmer retirements posted by sourgum on November 14, 2018 at 07:46:24:
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Not all farmers are sitting that good. Here land is worth 2,000 to 3,000 an acre. We have farmers who own anywhere from 40 to 160 or so acres who rent another 1000-1500 of tillable ground. They decide to retire they ain't got much to sell or rent out.
Kids today trying to break in? Better have a decent job with bennies. Enough of a job to get a home mortgage on a 5-10 acre homestead with a livable house on it. Plus enough cash in the bank to finance equipment and operating capital for a couple of years including cash rents for the acreage needed to be successful. Better plan on working that job until the farming operation become profitable. Most banks today are not going to advance much if any money on a venture like that. So you either work 18 hour days to make it work or you have someone in the family with money who's willing to give you money to stay out of their hair........Been that way for a good deal of time too.
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