Posted by Eldon (WA) on March 10, 2017 at 20:44:54 from (67.185.46.116):
In Reply to: hard times posted by kccca on March 10, 2017 at 12:20:31:
We were in a drought from '66 till '76, so I think my dad had already tightened the pocketbook before the 80's hit. I remember him saying the bank was after him to expand in the late 70's, but he didn't take the bait. He had paid off the mortgage around '74 and had pretty good savings by the 80's and was able to take advantage of the downturn in the economy. I left for college in 76 and that was the start of some of the best crops on the farm. I remember going home on weekends to cut silage and the corn was over 10' tall. He bought a new forest green Ford F150 in '79, his first FWA, a Hesston in '83 and a new Chevy diesel in '84, so things were pretty good in SD in the 80's for him. He also had to buy back my mom's 320 acre "inheritance" after her brother stole it from her and sold it to another guy...so I think he did ok. He was also happy earning 12% interest on his CD's. I didn't really feel the pinch as I was working off the farm, but did get a good deal on a neighbor's farm just up the road in '89, eventually sold 40 acres w/buildings to my brother and he has rented the rest over the years.
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