TidBit

[Sligh1]

yup I here ya. I'm thinking about having my bean plots harvested this year. I bet I could make a decent little income.

The info posted above has changed dramatically in the last 4 years and I feel is going to continue to get that way. There are still alot of farmers up this way that are conservation minded, but like you said, greed is a powerful thing and we'll see how long that lasts.

BTW, can I sit on your corn plot during late muzz? :drink2:

I have standing corn & beans and I don't want to post how much $ is gonna be gobbled up by deer. Just one acre of corn by me is $1,000+ per acre sitting there, OUCH!

Remember, things going crazy, this has ALWAYS happened.... How about tech stocks that started around $3 per share, got all the way up to $150..... People went crazy for 3-4 years, made lots of $.... What happened.... All went in the crapper!!! How about my buddy's buying tons of houses to flip.... Especially some folks I know in CA- those places were making them $50k a piece in 3 months... It was going CRAZY... What happened?!?!? CRASHED and burned. How many times have you seen the stock market get to record highs and a year later spiral downward. "Be cautious when others are greedy and greedy when others are cautious". Record gold prices, land, etc. If we looked back 100 years at ANYTHING, you could find countless examples of greed, sky-rocketing prices and spiral down trends. No one knows for sure what's going to happen with land. NO ONE, you might have some good ideas... Like me, I wouldn't be buying ag ground right now BUT that's me and I could be wrong, I just don't buy things at record high's, I'd rather buy at record lows. FACT: we are still at considerably discounted REC ground prices on the other hand VS 3-4 years ago. I wish I could buy more of that today!!

 

[Hardwood11]

Rec ground

Crop ground correction could come as early as next year more likely in 2013, it will happen if and when commodity prices drop and interest rates creep up. I am referring to the $5000-$11,000 an acre farms.

$2000 an acre farms, may only experience a minor correction.

I think Skip is right on rec ground...the days of hoping it gets back to $1000 an acre or less, doubt it will ever happen. Location is key, quality is very important, but you can always "fix up" a parcel.

Income of course is important, if the prices drop and the income still helps make the payment, then there is not a burden of ownership!

 

[shadowpeople]

Northwest Iowa is absolutely bat $h*t crazy! A few weeks ago, an 80 that set the record for the highest priced land in 1953 or something at $532 an acre, just sold for $14500 an acre and a week ago, a 160 with like 149 tillable sold for $13700. Rent is like $350-$500 over here. It is insane.

 

[Windwalker]

When the farm economy crashes its going to be a loud one. Think what people owe !!!!!!!!! Prices are just stupid.

 

[vman]

I admitt, prices are crazy. The thing is we are in a world economy now more than ever. With India and China gaining ground. They are starting to require more food and can now afford it Thanks to the USA. I really don't think its gonna crash as hard as we expect. Also, ethanol uses about 40% of the crop and that's climbing. Lots of things at play. The world population is supposed to climb at a pretty good clip to. All these things affect it.

 

[charbs82]

I agree, just talked to a family friend that is selling 150 acres of land in north central ia and was just offer over $9000/acre for it! Even crazier is they turned it down to put on auction to see if they get more. Unbelievable. There are some good prices for rec ground if you look hard, but if you want crop ground...forget it.

What worries me also is the land that is for farming that may have a timber or some crp that would be huntable is being wiped out. Seen a lot of timbers torn out and tilled in and also plowed from ditch to ditch. Habitat goes away as the money comes in.