Re: Maybe someday

Posted by redforlife on March 22, 2022 at 10:59:30 from (174.210.137.85):

In Reply to: Re: Maybe someday posted by ss55 on March 22, 2022 at 06:49:34:

I agree with ya. Except for the part about farmers losing interest in passing thier farms on. Which also can be true in some cases. But in many cases, it's a result and not a cause.
I think we have entered an era of get big, or get small or out. Which in turn brings about the whole lack of interest thing. Mediocre farmers know this. And because if that, either encourage thier kids to take up a different trade, or get an education to a different trade to fall back in case the farming thing don't go as planned. Which in turn, leads kids down a road that may not circle back around.
Middle sized farmers are getting weeded out at a very fast pace. Even if one has things work out just right, and has that kid that wants to farm, and hangs around to do so, it can be a very tuff road ahead for them. They likely buy a single farm with one of those newbie low interest loans. After that, any additional loans are the same as for anybody else. Then comes the whole farming in partnership with daddy and using his equipment because he is not yet ready to retire. That constantly keeps the potential income on the down low, as long as that is going on. As daddy approaches retirement, he is un-willing to up-grade or buy any new equipment. (I think I can grind along here a few more years with what I got, why don't you buy that new tractor or combine, or planter.) Then when daddy does retire, it's cash rent time instead of farming in partnership. Now your making rent payments same as if you are farming anyone elses ground. And that in a nut shell is like renting house. Might as well be paying loan payments to own, rather than rent payments. Then when daddy and mom finally kill over, it's inheritance time. And the 3 other siblings want to sell out, take the money and run. So, if the one wants to keep going, he can now purchase 3/4ths of the estate. He no longer using any of daddy's out dated equipment. So inheriting any of that would be useless. The list goes on.
Needless to say, in many cases, it don't work out even if there is an interest to line a kid out in farming, and the kid actually stays around and tries it, IF they in turn they have an interest to do so. And then there is all the other stuff. Can't manage money, no business sense. Stuff like that is a recipe for it to not work out.

I can name 6 medium size farmers close by me, that thier kids will never farm. 30 years from now, they'll likely not even own the land thier parents own today.

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