Tuesday, November 15, 2011

31 Percent Is a Bubble

See this from the Des Moines Register, reporting on the increase in farmland prices.

While I'm calling a bubble, I should note differences from the bubble of the late 70's: interest rates are much lower--when I bought a house in 1976 I thought I was doing great by getting 8 percent financing; apparently there's less leveraging among farm operators.

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