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<blockquote data-quote="Fritz the Cat" data-source="post: 95437" data-attributes="member: 605">Back to espringers,Yep, that is how I started, working a job and bought my first 160. Back to Johnr about farmers bidding up the land or being their own worst enemy,Yes, big farmers do drive the costs of rent stupid high. Lenders are backing away from land purchases at these prices. Assuming you get the bid and have to borrow every penny, lenders will only recognize 60% of &quot;their&quot; appraised value. You will have to put up 40% collateral. Lenders like title to land that the buyer owns free and clear. Young farmers don't have it and older ones don't like the risk. With commodity price predictions being in the tank for the next several years, I believe there is a correction coming. Absentee landowners who purchased land at high prices demanding high rents to make it pencil are going to get caught like others in the housing bubble. Lower the rent or let it set empty. Well we know it won't set empty, somebody (an optimist) will rent it. In all this mess habitat takes a back seat. However, habitat has to pay it own way too. It shouldn't be subsidized by the taxpayers. Tree rows yes, full blown CRP no.</blockquote>

[QUOTE="Fritz the Cat, post: 95437, member: 605"] Back to espringers, Yep, that is how I started, working a job and bought my first 160. Back to Johnr about farmers bidding up the land or being their own worst enemy, Yes, big farmers do drive the costs of rent stupid high. Lenders are backing away from land purchases at these prices. Assuming you get the bid and have to borrow every penny, lenders will only recognize 60% of "their" appraised value. You will have to put up 40% collateral. Lenders like title to land that the buyer owns free and clear. Young farmers don't have it and older ones don't like the risk. With commodity price predictions being in the tank for the next several years, I believe there is a correction coming. Absentee landowners who purchased land at high prices demanding high rents to make it pencil are going to get caught like others in the housing bubble. Lower the rent or let it set empty. Well we know it won't set empty, somebody (an optimist) will rent it. In all this mess habitat takes a back seat. However, habitat has to pay it own way too. It shouldn't be subsidized by the taxpayers. Tree rows yes, full blown CRP no. [/QUOTE]

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