If I remember correctly, when we lived in Manchester in 1978 farm land was selling for $3,300 an acre, which most people thought at the time was too high a price. I'm sure your neighbor is aware that the new equipment may take away the land that he worked so hard to pay for.
Your friends dilemma reminded me of the old saying: "Shirtsleeves to shirtsleeves in 3 generations". Sometimes it happens in only 2 generations. I've seen it happen many, many times. A lot of the "next generation" can not handle having a good start handed to them. I only know of one family in our farm neighborhood that the 3rd generation hung on to it and did well - but the 4th generation in that family is going to lose it!
Maybe the next generation should be deprived until they figure out how to claw their own way up in the world and then hang on to it!
Working in the equipment industry, I saw a lot of retail contracts for equipment that I knew the buyer would never be able to pay for the way things were with the farm economy back then. However, they wanted the equipment and wouldn't listen to any advice that they were getting themselves in financial trouble.
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