Never say never when it comes to a major correction in land prices. Before the spike in inflation happened a couple years ago the so called experts were saying that we would never again see inflation like what was seen during the 1970's. As to the 1980's it was not just about dummies with no financial sense. Quite a number of farmers got caught in the wrong point of their personal debt cycle. They had just taken on new acreage when the grain embargo happened in 1980. Corn and wheat went from 3.00 dollars per bushel to under 2.00 dollars per bushel. As to the 1930's some were pushed out due to a couple or more poor growing seasons. The depressed commodity prices left no room to cover a drought, sickness in the family, or failure of a bank or debtor to the farm. For that matter I know of a man who lost his farm around 1990 because his son's illness caused his personal debt to balloon into hundreds of thousands of dollars which was a lot of money then.
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Today's Featured Article - A Lifetime of Farm Machinery - by Joe Michaels. I am a mechanical engineer by profession, specializing in powerplant work. I worked as a machinist and engine erector, with time spent overseas. I have always had a love for machinery, and an appreciation for farming and farm machinery. I was born and raised in Brooklyn, New York. Not a place one would associate with farms or farm machinery. I credit my parents for instilling a lot of good values, a respect for learning, a knowledge of various skills and a little knowledge of farming in me, amo
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