Buying a plot of land in rural America has never been so expensive. And that’s even with soaring interest rates.
Rising commodity prices mean farmers made record amounts of money this year, spurring a rush for space to plant in 2023. More demand comes just as people fled to the countryside during the pandemic — with non-metropolitan areas growing faster than urban ones — and investors turned to fields as a hedge against inflation.
Farmland prices in the Midwest, the nation’s breadbasket, jumped 20% just in the third quarter from a year earlier — bucking a downturn in the residential real estate market, according to data from the Federal Reserve Bank of Chicago and the National Association of Realtors. That was the eleventh consecutive quarter of gains, the longest streak since 2014.
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Team Spotlight: Kari Rickenbach, Permanent Crop Associate Kari brings more than 20 years of experience in the permanent crop industry to Root Ag Advisory. With a background in farm operations, financial management, and horticulture, she understands the decisions producers face from both the field and business side of an operation. Her experience helps support Root… Employee Spotlight: Kari Richenbach
🌾Farm succession is not just about who gets the land. It is about protecting the operation, preserving family relationships, planning for taxes, assets, water, leases, and long-term goals… And making sure the next generation has a clear path forward. Consider the following when creating your farm’s succession plan: – The earlier the conversation starts, the… Farmland Succession Planning
Root Agricultural Advisory
2670 S. Eagle Rd. Meridian ID 83642
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