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Southern Alberta | Piece of dirt next door is coming up for sale. I have never farmed it and will not miss it if I don't get it, but wonder if I should bid on it. Normal prices for land over the last 20 years have been $8-900/ac and now it most likely will sell for $1300/ac. This year seems to have land selling at all time highs in my area.
With the consumer economy slowing and debt levels very high, will we see a reduction in grain prices in the near term? If we do, then the price of land is more likely to drop than rise. Part of me thinks that ag prices are soon to drop (in next 2 years) and then it will be back to barely breaking even for the next 5 years. Most of this land purchase would have to be financed.
I am thinking that there will be lots of land coming up for sale in my area over the next 10 years as there are lots of older farmers with no kids home to farm. | |
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good time to buy land?
