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WCMO-SWMO Area | Its hard to know...Lots around me bought land in the late 1970's and by the mid-late 1980's had lost it and everything that they owned. 5 years of bad weather,high interest,and low grain prices took their toll. The time to have bought land here was before 1972 or in the late 1980's-mid 1990's.
Land fell from $1000-1200 acre in 1981 down to $500-600 by 1988.Now its back up to $2000.If you can buy the place and hang on to it under the worst of circumstances go for it.I remember one night in 1966 a neighbor came over and offered Dad 40 tillable acres that joined us for $150 per acre.He wouldnt go for it.In 1979 it sold for $1300 per acre and by 1988 it sold for $550 per acre.Now $2200 per acre wouldnt touch it. | |
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good time to buy land?
