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The Economics of Asset Values and Current Income in Farming

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  • Reinsel, Robert
  • Reinsel, Edward

Abstract

In March of this year land values in the United States averaged 3 times their 1970 level. The increases in this decade sarpassed even those following World Wars I and II. It is not surprising that this Association should once again inquire into both the causes of land value changes and the implications of these changes for the future of Agriculture. Increasing land values are viewed by some with elation and by others with concern. To some the old saying that "farmers live poor and die rich" has been verified. Land owners have generally benefited from the sharp growth in their wealth position. But they dislike the higher real estate taxes that follow land appreciation. And they foresee difficulty in expanding their farms or in transferring ownership to younger farmers.

Suggested Citation

  • Reinsel, Robert & Reinsel, Edward, 1979. "The Economics of Asset Values and Current Income in Farming," 1979 Annual Meeting, July 29-August 1, Pullman, Washington 278182, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea79:278182
    DOI: 10.22004/ag.econ.278182
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    References listed on IDEAS

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    1. D. Gale Johnson, 1948. "Allocation of Agricultural Income," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 30(4), pages 724-749.
    2. Dale M. Hoover, 1962. "The Measurement and Importance of Real Capital Gains in United States Agriculture, 1940 through 1959," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 44(4), pages 929-940.
    3. Reinsel, Robert D. & Krenz, Ronald D., 1972. "Capitalization of Farm Program Benefits into Land Values," Miscellaneous Publications 324159, United States Department of Agriculture, Economic Research Service.
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    Cited by:

    1. Davis, Neal & Hanson, Gregory D. & Kinnucan, Henry, 1986. "Taxation And Agriculture: An Annotated Bibliography Of Selected Journals," Staff Reports 277841, United States Department of Agriculture, Economic Research Service.
    2. Vandeveer, Lonnie R., 1985. "Issues In Agricultural Land Markets: An Empirical Perspective," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 17(1), pages 1-10, July.
    3. Hennings, Enrique & Sherrick, Bruce J. & Barry, Peter J., 2005. "Portfolio Diversification Using Farmland Investments," 2005 Annual meeting, July 24-27, Providence, RI 19273, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    4. Shalit, Haim & Schmitz, Andrew, 1984. "Farmland Price Behavior And Credit Allocation," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 9(2), pages 1-11, December.
    5. Mishra, Ashok K. & Moss, Charles B. & Erickson, Kenneth W., 2004. "Effect Of Debt Solvency On Farmland Values: A Panel Cointegration Approach," 2004 Annual meeting, August 1-4, Denver, CO 20261, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    6. Brian C. Briggeman & Michael A. Gunderson & Brent A. Gloy, 2009. "The Financial Health of Agricultural Lenders," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 91(5), pages 1406-1413.
    7. Gertel, Karl, 1988. "Farmland Prices: An Example Of Economic Forecasts, Uses, And Limitations," Staff Reports 278051, United States Department of Agriculture, Economic Research Service.
    8. Flowers, Gwendolyn G., 1983. "An economic analysis of the relation of farm land values and returns," ISU General Staff Papers 198301010800009469, Iowa State University, Department of Economics.
    9. Fiske, John Robery, 1983. "The impact of financial constraints on the local price of farm land," ISU General Staff Papers 198301010800008710, Iowa State University, Department of Economics.
    10. C. Arden Pope III & H. L. Goodwin, 1984. "Impacts of Consumptive Demand on Rural Land Values," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 66(5), pages 750-754.
    11. Gertel, Karl, 1985. "Differing Effects of Farm Commodity Programs on Land Returns and Land Values," Agricultural Economic Reports 307999, United States Department of Agriculture, Economic Research Service.
    12. El-Osta, Hisham S. & Mishra, Ashok K., 2005. "Dimensions of Wealth Dispersion Among Farm Operator Households: An Assessment of the Impact of Farm Subsidies," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 37(1), pages 187-208, April.
    13. Sandrey, Ronald A. & Arthur, Louise M. & Oliveira, Ronald A. & Wilson, W. Robert, 1982. "Determinants Of Oregon Farmland Values: A Pooled Cross-Sectional, Time Series Analysis," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 7(2), pages 1-10, December.
    14. Chavas, Jean-Paul & Shumway, C. Richard, 1982. "A Pooled Time-Series Cross-Section Analysis Of Land Prices," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 7(1), pages 1-12, July.
    15. Stam, Jerome M., 1995. "Credit as a Factor Influencing Farmland Values," Staff Reports 278779, United States Department of Agriculture, Economic Research Service.
    16. Sala Rios, Mercé & Torres Solé, Teresa, 2007. "Factores No Agronómicos: Análisis De Su Influencia En Los Precios De La Tierra Agraria/Analysis on the infl uence of Non-agronomic-factors over the prices of agricultural land," Estudios de Economia Aplicada, Estudios de Economia Aplicada, vol. 25, pages 145-164, Abril.

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    Keywords

    Land Economics/Use;

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