Biggest jump in Midwest farmland prices in ...
Prices for farmland in the heart of the U.S. grain belt were up 17 percent in the second quarter compared to a year ago, the biggest jump since 1977, the Federal Reserve Bank of Chicago said on Wednesday.
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#1 Aug 18, 2011
“Land, especially cropland, is the only investment to have just three price declines in the last 100 years,” said broker Bill Gaughan.“It went down in price during the Depression, 1980, and there was a brief decline during the 2008 recession.”
In contrast to the up-and-down stock market, rural farmland has seen a steady increase in value.
In 2003, Missouri farmland went for an average of $1,600 per acre, according to the Missouri Farm Press. It has increased an average of $60 or more per acre every year since, said the organization.
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