Posted by Bruce from Can. on February 21, 2022 at 13:12:11 from (70.50.208.37):
In Reply to: Re: New tractor sales posted by NY 986 on February 21, 2022 at 10:59:16:
Good for you. I watched a neighbours equipment sold off by lenders once, and in 1983 the auctioneer sold off another close neighbours farm, it barely sold for enough to clear off the debt and back taxes. My next door neighbour went bankrupt around 1995, and again all of their equipment went on the block, and Farm Credit took possession of the land. The family was able to leave with their personal possessions and house hold furniture. Broken and in despair, they left a bunk of old furniture and junk behind, for someone else to clean up. I watched it happen before, and it can and will happen again if the conditions are ripe. I know many farmers that are wallowing in debt right now. And a slight rise in interest would see them scrambling
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