Posted by rrlund on December 18, 2012 at 06:34:08 from (207.241.137.116):
In Reply to: Farm land bubble posted by Jon L on December 17, 2012 at 22:29:56:
The talking heads on TV deny it,but I farmed through the 70s and 80s,I know better. They claim it's not a bubble because buyers have cash. You can't convince me it's all cash sales. Lenders are lending based on equity,not on ability to repay. At least not in the long run. Just because income is high enough to make a payment this year,doesn't mean it will be next year or a few years down the road. Just a bunch of wet behind the ears lenders and investors.
Was it Denmark or the Netherlands where they just learned this lesson the hard way with a big crash in farm land prices?
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