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Rusk Mental Institution
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<blockquote data-quote="Katpau" data-source="post: 1816090" data-attributes="member: 9933"><p>Bought our first small home in Minnesota in 1975. It came with 40 acres and a small barn for $25,000. I was feeling pretty good about the purchase, until I checked out the records at the court house and found it sold a few years earlier for $4,000. I would have been too young to have bought it then, but I still wondered if I over paid. Bought and sold several farms and ranches since. Our 925 acre ranch in Oregon was purchased in 1990 for less than $400 an acre. Over my lifetime, land had always been the safest investment, but I am questioning whether that is still true. In the past farm and ranch land was priced based on the market for the crops or livestock that could be raised there. Nowadays it is mostly bought by wealthy investors gambling on it going even higher with little regard for what it is actually able to produce in revenue year to year. Farmers and ranchers can't afford the land without a good job in another field. Have we reached a point where this will all come tumbling down?</p></blockquote><p></p>
[QUOTE="Katpau, post: 1816090, member: 9933"] Bought our first small home in Minnesota in 1975. It came with 40 acres and a small barn for $25,000. I was feeling pretty good about the purchase, until I checked out the records at the court house and found it sold a few years earlier for $4,000. I would have been too young to have bought it then, but I still wondered if I over paid. Bought and sold several farms and ranches since. Our 925 acre ranch in Oregon was purchased in 1990 for less than $400 an acre. Over my lifetime, land had always been the safest investment, but I am questioning whether that is still true. In the past farm and ranch land was priced based on the market for the crops or livestock that could be raised there. Nowadays it is mostly bought by wealthy investors gambling on it going even higher with little regard for what it is actually able to produce in revenue year to year. Farmers and ranchers can't afford the land without a good job in another field. Have we reached a point where this will all come tumbling down? [/QUOTE]
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