Land in Farm Areas Soar in Price in the Kansas, Nebraska and the rest of the Midwest - Farmland Values May Still Be Rising with Bumper Crops

Land in Farm Areas Soar in Price in the Kansas, Nebraska and the rest of the Midwest - Farmland Values May Still Be Rising . . .

Surveys recently released by the Federal Reserves in Kansas City and Chicago find that despite a struggling U.S. housing market, agricultural land in their districts is skyrocketing in value. The surprising data showed that the increase in land values may still be rising. The survey said that:

"District farmland values surged to a record high in the third quarter," the Kansas City survey said. "Cropland values rose more than 25 percent over the past year, and ranchland values increased 14 percent."

In particular, Nebraska experienced exceptionally strong gains in the Kansas City District due to bumper crops -- especially productive seasons for certain crops -- reporting a roughly 40% rise in farmland prices from one year ago.

A similar bubble occurred in the 1980's, then the farmland values dropped like a pancake.

To read the full Money Magazine article, go to: Midwest Farmland Values Soar.

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Blog post written by the Dowell Taggart Team of RE/MAX Premier Realty 

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