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Post by ses on Sept 5, 2011 16:04:49 GMT -5
A local yokel who bought some CRP 20 years ago , that has been reenrolled for the third time, just sold one quarter of it for $925 an acre. I think the CRP rental rate is $37 an acre. It's some of the poorest land in the county with rocks showing through lots of places and about 25 acres waste. He sold it within two weeks of listing it . The guy who bought it apparently didn't haggle price and supposedly there was another guy waiting to buy it if the first guy didn't take it.
So my question is, just how *&^^ing stupid are people?
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dm479
FFA member
Posts: 78
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Post by dm479 on Sept 5, 2011 16:15:51 GMT -5
local guy or city --everbody seeing pie in the sky $14 beans and $8 corn will do that oh oh and all land is highly productive no matter where it is --------dave
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Post by ses on Sept 5, 2011 16:27:13 GMT -5
Yeah but this is in the CRP for the next 14 years. You never will have a good gear and it never will matter what the grain prices. This land deal is getting crazy. With the waste on it that makes for a 3.5 % return for the next 14 years. I guess That's OK if you don't have your sight set too high.
Good productive land auctioned around here last fall for $1075 to $1235 . That whole CRP crap for that price is stupid by comparison IMO. When it expires it will be crap grass with no fences or water on some really shit land. I guess the Gov can just keep enrolling it forever.
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dm479
FFA member
Posts: 78
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Post by dm479 on Sept 5, 2011 19:37:05 GMT -5
what CDs paying at the bank right now 1and half or two percent sill better than the CD-----------dave
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dm479
FFA member
Posts: 78
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Post by dm479 on Sept 5, 2011 19:38:06 GMT -5
what CDs paying at the bank right now 1and half or two percent sill better than the CD-----------dave
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Post by postoak on Sept 6, 2011 21:23:04 GMT -5
My aunt from champaign IL said she heard of some ground near hers selling for 11,100 an acre, I don't know how the guy who bought that can get his fly zipped
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Post by ses on Sept 6, 2011 21:28:48 GMT -5
This whole cheap interest bullshit the Fed has going has everything so distorted it's pitiful. $11000 per acre won't work but like Dave479 said, one and a half percent on CDs is as bad as it gets. Not far to Zero from there.
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