August 17, 2009

For the first time since 1987, farm real estate value has declined, according to the "2009 Land Value and Cash Rents Summary" report released by USDA’s National Agricultural Statistics Service (NASS).

 

"The contraction in the overall economy has caused less commercial and residential development in many regions. Livestock and crop commodity prices have declined from a year earlier, thus producers and investors are less optimistic than a year ago," say NASS analysts. "A decrease in the demand for recreational land has also contributed to the overall decrease in land values."

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