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Journal Article
A resurgent rural economy spurs farmland values
The rural economy broke free from the reins of recession in 2004 with an especially strong performance in the farm sector. Net farm income easily surpassed the record high of 2003. And the weakness that plagued the nonfarm rural economy in recent years appears to have been replaced with stronger job growth and higher incomes. Strong performances in the farm and nonfarm sectors have led to soaring land values. Rising incomes are often capitalized into asset values, and the past year was no exception. Rising rural incomes quickly led to strong land value gains. Since real estate is rural ...
Journal Article
Swap meet
How a real estate law has driven up farmland prices.
Journal Article
The 1987 agricultural recovery: a district perspective
Working Paper
The impact of wildlife recreation on farmland values
Wildlife recreation ? hunting, fishing, and wildlife watching ? appears to be an increasingly important past time for many Americans as people continue to increase their spending on wildlife recreation. Land lease and ownership expenditures by wildlife recreation participants are rising and appear to be capitalized into farmland values. This paper analyzes the impact of hunting lease rates on farmland values in Texas. The results indicate that counties with higher wildlife recreation income streams have higher land values.
Journal Article
The farm real estate market
Newsletter
Rising farmland values: causes and cautions
On November 15, 2011, the Federal Reserve Bank of Chicago held a conference to explore what has been driving the large and rapid increases in Midwest farmland values. Academics, industry representatives, and regulators presented their views on the factors contributing to these gains, as well as the potential risks posed by them.
Working Paper
Rural wealth creation and emerging energy industries: lease and royalty payments to farm households and businesses
New technologies for accessing energy resources, changes in global energy markets, and government policies have encouraged growth in the natural gas and wind industries in the 2000s. The growth has offered new opportunities for wealth creation in many rural areas. At a local level, households who own land or mineral rights can benefit from energy development through lease and royalty payments. Using nationally-representative data on U.S. farms from 2011, we assess the consumption, investment, and wealth implications of the $2.3 billion in lease and royalty payments that energy companies paid ...
Journal Article
How will the 1996 Farm Bill affect the outlook for District farmland values?
Farmland values in the states of the Tenth Federal Reserve District rose about 5.5 percent over the year ended June 30, 1997. Indeed, over the past two years prices in many parts of the country have risen sharply. The jump in farmland values comes at a time of dynamic change in the farm sector. Last year, the federal government enacted sweeping farm legislation that both lowers payments to producers and removes many government controls on farm production.> Government payments have been an important source of farm income for many years, and have likely been capitalized into farmland values. ...
Journal Article
Agricultural credit conditions : booming farmland values