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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
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    File URL: http://ageconsearch.umn.edu/record/278182/files/aaea-1979-051.pdf
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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.
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    Cited by:

    1. 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).
    2. 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.
    3. Gertel, Karl, 1988. "Farmland Prices: An Example Of Economic Forecasts, Uses, And Limitations," Staff Reports 278051, United States Department of Agriculture, Economic Research Service.
    4. 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.
    5. Lee J. Alston & Randal R. Rucker & Marc D. Weidenmier, "undated". "Did U.S. Agricultural Policy Lock Farmers into Wheat? The Capitalization of Farm Policies into Land Prices in the U.S and Canada," Claremont Colleges Working Papers 2000-27, Claremont Colleges.
    6. 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.
    7. 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(01), pages 187-208, April.
    8. 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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