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Kingston,Mi | During that time frame when some farmers were asking for and getting relief on loans or were being put on a "financial" diet (reduced loan amounts due to refigured balance sheets), I was talking to a farmer about my age and ask him how he was doing. He replied he was in good shape, was still getting full amount loans. I ask what was his secret. He said each year when he met with his loan officer, he DID NOT increase his land value above where he started even though land values had increased significantly so when land value devaluation started to effect his neighbors ability to barrow, he just sailed on, operating equipment that was serviceable and a decade old. | |
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Those who farmed through the '80's ?
