A New Real Estate Bubble in the Cornbelt?

A New Real Estate Bubble in the Cornbelt?Howard Audsley has been driving through Missouri for the past 30 years to assess the value of farmland. Barreling down the flat roads of Saline County on a recent day, he stopped his truck at a 160-acre tract of newly tilled black land. The land sold in February for $10,700 per acre, double what it would have gone for five years ago.

Heading out into the field, Audsley picked up a clod of the dirt that makes this pocket of land some of the priciest in the state.

“This is a very loamy, very productive, but loamy soil,” Audsley said. “A high-clay soil will just be like a rock and that’s the difference between the … soils. And the farmers know this and the investors know this. That’s why they pay for it what they do.”

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Authored By Abbie Fentress Swanson – See the Full Story at Net Nebraska

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