IA - Value of farm land increases 15.9 percent
After a slight dip in the previous year, average farmland values
increased 15.9 percent in 2010, according to an annual survey conducted
by Iowa State University Extension and released today. The statewide
average land value this year was $5, 064 an acre.
Story County did better than the statewide average, with a 19.61 percent increase in land value in 2010, with an average per acre value of $6,434. Boone County did as well, with a 19.63 percent increase and an average per acre value of $6,225.
Mike Duffy, ISU Extension economist, said that there was no need to be overly pessimistic, or expect a crash in values in the near future. Despite a series of substantial land value increases over the last few years, Duffy did not think land values were over-inflated.
“I get asked all the time if this is a speculative bubble. In the near term, the fundamentals dictate the increases we’ve been seeing. We have high commodity prices, we have historically low interest rates, and we have considerable demand for the land and yet limited supply available. The kinds of increases we’ve been seeing are not ones that raise red flags for me.”
http://amestrib.com/articles/2010/12/16/boone/news/doc4d0a422c1b530411638140.txt
Story County did better than the statewide average, with a 19.61 percent increase in land value in 2010, with an average per acre value of $6,434. Boone County did as well, with a 19.63 percent increase and an average per acre value of $6,225.
Mike Duffy, ISU Extension economist, said that there was no need to be overly pessimistic, or expect a crash in values in the near future. Despite a series of substantial land value increases over the last few years, Duffy did not think land values were over-inflated.
“I get asked all the time if this is a speculative bubble. In the near term, the fundamentals dictate the increases we’ve been seeing. We have high commodity prices, we have historically low interest rates, and we have considerable demand for the land and yet limited supply available. The kinds of increases we’ve been seeing are not ones that raise red flags for me.”
http://amestrib.com/articles/2010/12/16/boone/news/doc4d0a422c1b530411638140.txt
Posted by Knucklz at December 21, 2010 12:37 PM 
Categories: Taxes, Economy, Conspiracy
Tags: Iowa Economy
Categories: Taxes, Economy, Conspiracy
Tags: Iowa Economy
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