Posted by tomstractorsandtoys1 on December 18, 2012 at 10:06:49 from (64.136.27.164):
In Reply to: Re: Farm land bubble posted by rrlund on December 18, 2012 at 06:34:08:
My banker said it is harder to borrow money for land today than ever before.With the high prices they want a large down payment and proof that it will cash flow with normal crop yeilds and prices.My bank will not lend for land on equity only cash flow.I guess they learned some lessons in the 80's.He told me they had few problems with the housing crash because they did not make loans to those who couldn't pay.They expect to see a leveling off to a small decline but not a crash.
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