Land Prices Economy ?

[redka]

Will this U.S. economy/financial situation lower rural hunting land prices?
How much lower? Thanks.

[ebaybow]

With a global downturn/recession in sight, think about keeping money in your pocket.
I'm sure prices will turn in '09/2010.
People still think land and houses only go up in value!

[Howler]

IF the commidty prices keep falling, which include all cash grains, then you can bet that farm ground will also adjust. In just the last month, soybeans, for instance local prices have gone from about the $13./bu down to about $8./bu. If the prices keep going down, and stay down, then ag. land will have to adjust.Less the crops are worth, the less the land will be worth.
If the land is in an area that could be sold as future housing blocks, I'd expect that price to fall also. At least in the short term. Once the housnig market begins to take off again, I'd expect the land prices to follow.

[Lanse couche couche]

Land prices have certainly dropped in southeast Illinois where I own land. A year ago, the prices for wooded hunting ground were in the $2000 to $2500 per acre range. However, they had dropped to the point that i bought a small piece of ground over the Summer for $1650 an acre and I have seen much better land that that advertised for around $1850 an acre more recently. As someone else said, farm ground prices are likely dropping too. However, once the real estate market recovers, I assume that the prices will jump pretty quickly and surpass previous levels.

[ebaybow]

Don't call a bottom yet!
Worldwide economy is crashing...