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Re: Why the rich are buying farmland [Re: Cragar] #7369841
10/02/21 06:36 PM
10/02/21 06:36 PM
Joined: May 2011
Posts: 1,138
Kansas
K
Kansas Cat Offline
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Kansas
Another thing to keep in mind, wealthy people do not need to borrow money to finance land purchases. Therefore, they can easily justify a purchase price that is higher than someone using leverage.

Re: Why the rich are buying farmland [Re: Cragar] #7369844
10/02/21 06:41 PM
10/02/21 06:41 PM
Joined: Oct 2011
Posts: 1,545
Western Shore Delaware
SJA Offline
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. . . and remember this, having land in any amount can be confiscated via gov't eminent domain. mad


"Humans are the hardest people to get along with."
Dr. Phillip Snow
Re: Why the rich are buying farmland [Re: Cragar] #7369846
10/02/21 06:48 PM
10/02/21 06:48 PM
Joined: Aug 2010
Posts: 7,986
Asheville, NC
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charles Offline
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charles  Offline
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Most rich folks I know are pretty smart.

Re: Why the rich are buying farmland [Re: Cragar] #7369858
10/02/21 06:58 PM
10/02/21 06:58 PM
Joined: May 2011
Posts: 1,138
Kansas
K
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Kansas
It depends on if they are 1st, 2nd or 3rd generation!

Re: Why the rich are buying farmland [Re: KeithC] #7369942
10/02/21 08:13 PM
10/02/21 08:13 PM
Joined: May 2010
Posts: 8,240
mn north of blakely
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Steven 49er Offline
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mn north of blakely
Originally Posted by KeithC
Originally Posted by Steven 49er
Take note when the rich start moving their money to real assets.


It's the only way to keep wealth during periods of rapid inflation. Anyone saving large amounts of money right now is going to be robbed by the democrats, who are intentionally creating a huge amount of inflation.

Keith



In my opinion the inflation we are experiencing now is caused by money printed in 2020. That is why I don't believe this is transitory. The presses are still going full on. Could be wrong.

Kansas Cat, my definition of hard assets are real estate like rentals, farmland, precious metals. Thing that if the dollar gets destroyed are still tangible. The price of an acre may drop but it's still an acre. I don't put Bitcoin in the hard asset class. At least not yet.

K Cat, I wonder if these people are paying cash, why when you can borrow money below the rate of inflation.

Re: Why the rich are buying farmland [Re: Cragar] #7369945
10/02/21 08:14 PM
10/02/21 08:14 PM
Joined: Jul 2016
Posts: 1,219
Wisconsin
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Wisconsin
Ted Turner is right around 2 million acres. I hunted inside one of his ranches in Nebraska. It was 17 miles long 9 miles wide roughly as I recall.

Re: Why the rich are buying farmland [Re: Cragar] #7369962
10/02/21 08:29 PM
10/02/21 08:29 PM
Joined: May 2011
Posts: 1,138
Kansas
K
Kansas Cat Offline
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Kansas
Do you consider common/preferred stock a hard asset?

Re: Why the rich are buying farmland [Re: Cragar] #7369969
10/02/21 08:34 PM
10/02/21 08:34 PM
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Posts: 8,240
mn north of blakely
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Steven 49er Offline
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Steven 49er  Offline
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mn north of blakely
I don't but I'm a contrarian

Re: Why the rich are buying farmland [Re: Cragar] #7369978
10/02/21 08:42 PM
10/02/21 08:42 PM
Joined: Jan 2017
Posts: 5,784
Marion Kansas
Y
Yes sir Online content
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Yes sir  Online Content
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Joined: Jan 2017
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Marion Kansas
If Gates really believes in Global warming wouldn't he be buying farm land in Alaska?

Re: Why the rich are buying farmland [Re: Cragar] #7369979
10/02/21 08:46 PM
10/02/21 08:46 PM
Joined: May 2011
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Kansas
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Kansas
Corporations own plenty of real estate. I don't consider common stock to be much more risky than previous metals or land. They can all experience substantial reductions in value.

Re: Why the rich are buying farmland [Re: Cragar] #7369981
10/02/21 08:52 PM
10/02/21 08:52 PM
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Posts: 1,138
Kansas
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Kansas Cat Offline
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Kansas
We will at some point reach "peak food". It is interesting to speculate what this will look like.

Re: Why the rich are buying farmland [Re: Kansas Cat] #7369982
10/02/21 08:53 PM
10/02/21 08:53 PM
Joined: Jan 2017
Posts: 5,784
Marion Kansas
Y
Yes sir Online content
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Originally Posted by Kansas Cat
We will at some point reach "peak food". It is interesting to speculate what this will look like.

I can send pic. I reached that point at supper tonight

Re: Why the rich are buying farmland [Re: Cragar] #7369983
10/02/21 08:55 PM
10/02/21 08:55 PM
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Posts: 1,138
Kansas
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Kansas
LOL.

Re: Why the rich are buying farmland [Re: Kansas Cat] #7369984
10/02/21 08:55 PM
10/02/21 08:55 PM
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Posts: 1,545
Western Shore Delaware
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Originally Posted by Kansas Cat
We will at some point reach "peak food". It is interesting to speculate what this will look like.


Soylent Green grin


"Humans are the hardest people to get along with."
Dr. Phillip Snow
Re: Why the rich are buying farmland [Re: Cragar] #7369987
10/02/21 09:00 PM
10/02/21 09:00 PM
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Asheville, NC
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charles Offline
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Rich people are not the only ones who make good or bad decisions. Smart people seem to have an advantage. Wish I was smarter.

Re: Why the rich are buying farmland [Re: Kansas Cat] #7369994
10/02/21 09:19 PM
10/02/21 09:19 PM
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mn north of blakely
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Originally Posted by Kansas Cat
Corporations own plenty of real estate. I don't consider common stock to be much more risky than previous metals or land. They can all experience substantial reductions in value.


Did you own common stock in Enron? GM? Lucent Technologies?

We have different philosophies. Without the bailout and unrestricted money creation that happened in 2008 and the one that is ongoing right now that started in 2019 we would be in a whole different place. Can they print money forever? What happens when they can't and eventually they won't be able to print anymore.

PMs have risen and fallen but I don't see any risk. Their prices could go in half tomorrow yet if you have an ounce of gold would still own an ounce of gold. Land prices can drop yet if you own it it's still an acre of land that can produce value, albeit they could tax you right out of it. Real estate and PMs could go to zero tomorrow and yet eventually they would have value again. Gold and real estate have had value for several millennia, through 2 world wars, pandemics, and plagues.


Originally Posted by Kansas Cat
We will at some point reach "peak food". It is interesting to speculate what this will look like.


I agree. It's also interesting to speculate what it will look like when the DXY market drops into the mid 80s or lower. 150 dollar oil? 12-15 dollar corn?

Re: Why the rich are buying farmland [Re: Cragar] #7370022
10/02/21 10:02 PM
10/02/21 10:02 PM
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Posts: 1,138
Kansas
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No. I sold plenty of oil to Enron. I changed buyers before they imploded. I never owned stock in GM or Lucent technologies either. All common stock is not created equal. Single stock risk is a real thing. I also own plenty of land. I firmly believe in diversification. The only precious metal I have ever owned was in the form of class rings. I like assets that pay me to hold them. I also have never liked assets that can die.

Re: Why the rich are buying farmland [Re: Cragar] #7370213
10/03/21 08:41 AM
10/03/21 08:41 AM
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ohio
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ohio
what about warren buffet, isn't he mostly all stocks?

Re: Why the rich are buying farmland [Re: Cragar] #7370229
10/03/21 09:01 AM
10/03/21 09:01 AM
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Dunbar, Wisconsin
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The rich/smart also are buying up mobile home parks.

Re: Why the rich are buying farmland [Re: white17] #7370265
10/03/21 09:57 AM
10/03/21 09:57 AM
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east central WI
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east central WI
Originally Posted by white17

Seems to me that most privately owned land is better cared for than a lot of public land.




I would agree with that, around me the state/feds owned land is poorly cared for.

The "natural" areas are not maintained at all. No prescribed burns in the prairie plantings, no invasives control every where else. In time at the current management we'll end up with one large patch of buckthorn, garlic mustard and Reed canary grass.

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