Windlooker
Well-Known Member
My first piece in Iowa was 800/ac (2002) and I had to think about it.My second adjoining piece was 1000 and my neighbor thought I was nuts. Lol. In fact he passed on both at 700 a couple years earlier.
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Now that is probably $6000 acreThe very first farm I looked at in late 90s in Iowa was $800/acre. Decatur County If I remember correctly … crp/timber .
In 1988 when we built our home interest was 10.5% and the would readjust every five years with a cap at 13%. Lucky after a few years we were able to do a fixed rate at 8% for 20 year note.Remember when you were jacked when mortgage rates went below 10%. That would be predatory lending today!
I think you'll have a stiff recession here shortly and circumstances will change.