As the housing market tanked a few years ago, of course the price of farmland “ripe” for housing crashed along with it. Meanwhile, many investors, noting impending food shortages and low interest rates, bought farmland in rural areas. Now, no surprise, they’re selling their rural land and using some of the cash to again purchase suburban farmland, at the much lower prices. The profit, of course, is in buying and selling land, not producing anything. I am grateful to Mary Ellen Podmolik for her article in the June 19 Tribune, which provides some details.
Farmland owners profit by returning to suburbs
June 18th, 2011 by Administrator
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