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Lapel, In | In my opinion, the old man is making a HUGE mistake, but he never asked me for advice. Had a neighbor who sold his farm when it hit $1,000 an acre.He thought he was going to be rich and couldn't turn that kind of money down.Neighboring farms were selling for $500 an acre. Right in the path of progress, it now sells by the square foot. I realize this is not the case with this farm, but if we get hit with hyper inflation the seller might not have very much purchasing power left. It has happened before and could well happen again in a few years. Money is never about the number of dollars, its always about purchasing power or the value of those dollars. That is why the smart money is now buying farmland.
Edited by msb 10/29/2010 18:05
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Kansas guys get out your checkbooks for this one...
