Friday, September 5, 2008

UNL PROFESSOR NOT SEEING REPEAT OF 1980 FARM CRISIS

'(AP) -- A University of Nebraska-Lincoln professor of agricultural economics says the factors aren't stacking up to make for a repeat of the 1980s farm crisis. The big increase in ag land prices may have some worried, but Bruce Johnson says farm real estate conditions are much different today than in the early 1980s. Back then, only 20% of land sales were cash and down payments were also around 20%. Land owners also faced higher interest rates. He says now about 50% of all ag land purchases are in cash and down payments are larger.