Posted by MarkB_MI on November 09, 2014 at 02:31:24 from (70.194.5.165):
In Reply to: Re: OT: farm land rent posted by JD Seller on November 08, 2014 at 22:06:28:
JD, looking at it from the landlord's point of view, shouldn't rents be affected by land prices rather than crop rents? I have some land on which the lease is up, and the rent is currently $45/acre. (This is dryland out west, where rent is naturally much less than where you're at.) OK, I understand grain prices are down, but the renter didn't voluntarily raise his rent when corn shot up a few years ago. Here's the kicker: this same tenant, what you'd call a BTO, last year offered over $3000/acre to purchase property next to mine. That's a value-to-rent ratio of about 70:1. Shouldn't that number be around 20 or 30 to one?
You can bet our tenant will bemoan the low grain prices when I discuss rent with him. And you can bet I'll bring up the current price of farmland.
This post was edited by MarkB_MI at 02:50:04 11/09/14.
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