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Farm income should support stable land values
Although some land values have softened lately, a good harvest should keep them from falling much more. Dale Aupperle tracks farmland values for the Illinois Society of Professional Farm Managers and Rural Appraisers, and even though what he’s tracking is specifically for Illinois, it paints a picture of what farmland is doing in America’s Heartland. Despite softening land prices, Aupperle says it is earnings that will drive farmland values. Further, Aupperle in his colleagues do not consider current farmland prices to represent a bubble.
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