Posted by NY 986 on January 30, 2009 at 07:22:08 from (166.217.46.152):
In Reply to: Farm ground prices posted by MF294-4 on January 29, 2009 at 18:32:55:
I can appreciate your frustration. I'm trying to farm in a similar situation but we don't see the prices you do. I've needed to grow size-wise to offset the increased cost of putting in crops for several years but cannot. If this keeps going on, I don't see a future for myself in farming. People don't realize that the younger generation is not handed everything free and clear all the time. Financial progress is slower with the more debt and resulting interest one has to service. Yes, I did work off the farm as much as possible most of my adult years. Right now I'm not working (not by choice) and the Western New York economy is especially weak. I apologize if I sound sensitive (raw) but I am getting beat by a wealthy hobby farmer and not enjoying it. It especially irritates me because hearing from multiple sources he has a real low opinion of people outside his elite status in life. I disagree with those who say farmland is an automatic hedge against the current economy. Just in the 20th century, you had severe fallbacks after World War 1, the Great Depression, and the 1980's. Land had a mild fall back during the 1960's. All this takes is not finding buyers that can pay the going asking price. I would say this describes well over 90% of young farmers out there. Again, I'll have to say that a price of something like farmland eventually has to come back inline with its ability to pay for itself (just like housing). Sorry to ramble on but this topic strikes a nerve with me.
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