The latest from the Depatrment of Agriculture is that Land Prices are on the rise! I heard this on the radio this morning on the Farm Network and Commodities show. Because this is not BAD news...you won't hear any of it on the local "or" national news...not depressing enough.
It seams that the Demand for grains and other exportable commodities is driving up the land prices. (Not to mention the use of grain for ethenol) Many of the CRP lands that the Gov. had paid the farmers to set idle, are not going back into that program...somewhere in the area of 1 million acres may be converted back. The Nationl average increase is just over 9% for farm land for this year!!! Again the good news will not be put forth by the media!
SO, WHAT DOES ALL THIS MEAN???
Althought the housing market is in the slump, things could change at a rapid pace when the developers find out they will have to pay a lot more for land to develope. (along with all the increased cost in putting in roads and other utitlities.) Builders will have to consider tearing down old homes and rebuilding! The current houses will be in more demand when there are fewer lots to build on.
THIS COULD CHANGE THE WAY RESIDENTIAL REAL ESTATE IS LOOKED UPON!
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