Kramer Land Auction Yesterday

[sk_wheatking]

Any Thought's? Prices seemed to stay right around where they have been lately.

[lesm]

Sale or rent. What was the assessment and price?

[wmoebis]

I think guys will hold land or push sales to keep/gain acres. But will run equipment or put off those new hopper bins for a few years.

[tweety]

What? Land didn't crash like Sask3 said it would?

[BTO_farmalll]

Give it Time,

This is a Pracess,

Not an Event

[BTO_farmalll]

#$2CorndaNewNorm

[tweety]

BTO, there are those who have been saying that for 40 years.

[farmaholic]

...no crash but I still say a slight correction. Right after I buy some...

[furrowtickler]

It sold for 3 ish times assessment - like it has for about the last 2 years . But it is not continued to go through the roof at 4,5,6 times .

[tstep]

Analysts predict land prices will drop 15-20% in the next 2-3 years.

[farmaholic]

tstep. 20% would be a little steep in my opinion. I'm not saying it won't go that far, just saying that would be a pretty good hit.

[Klause]

That would mean in this area from 275,000 to 220,000. Not a real big drop. ..

[ajl]

The 16% drop in the $CDn since last summer is masking the declines in Canada. That is why everything seems flat with last year.

[freewheat]

Not to be too pessimistic here. But long term, I still see land CRASHING.

Long term profitability and productivity HAS to count towards the value, I don't care who you are. Unless, we suddenly have a string of great prices again.

Costs are simply not going down. and as long as we insist on millions of dollars of highly depreciable machinery to go along with today's farming "needs", we are going to need more than 6 dollar wheat to sustain land values.

It has crashed before. I think a 20% drop is a joke, actually.

[sk_wheatking]

Guy's if you think credit is tight right now what do you think it would be like if land prices "crashed"? I don't think that 65,000 dollar quarters of land are going to benefit anyone. I think that there are still guy's out there that have the ridiculous notion that land is overpriced which it isn't. Land is the only thing that farmers have that is really worth anything in the long term. I for one am more than happy to see the big run up in land prices. It makes what I have worth a good dollar and if I don't buy anymore I am happy with what I have. Like I said,if land goes down your credit goes with it. One other thing that drives me nuts is the guys who complain,yeah but what about so and so,he wants to buy a quarter of land and start farming but how can he do it when prices are so high!!??? Well if your hinging your farming career on 1 quarter of land I think that you need to figure out another line of work.