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Land broker sees slowdown in farmland market
A farm real estate specialist says there’s been some instability in the farmland market.
Koby Rickertsen with High Point Land Company says land values could see a decline if downward pressure on commodity prices continues. “We’re not as excited in the last six months or so as we have been. You’re not seeing huge 8% increases.”
He tells Brownfield a slowdown isn’t necessarily a bad thing. “We needed a correction year I think, or maybe a year to just kind of slow down a minute and find out the pulse of the world.”
Rickertsen says the market had a big runup in recent years. “The last few years have been insane. Especially in Iowa where every auction was a record. It was fun to watch it.”
He spoke to Brownfield at the 34th annual Buffalo Bill Farm and Ranch Expo in North Platte, Nebraska.
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