After housing prices soared in the first half of last decade, they came down with a crash in the second half. That?s what many bubbles do, eventually. So what?s to stop the same thing from happening to rapidly rising farmland prices? Is this another unsustainable bubble, waiting to pop? Economists and farm specialists say no.
….UW-Madison agricultural economist Bruce Jones agreed a crash in farm values was unlikely. The circumstances are different, he said, from both the housing market scenario and the devastating farm crisis of the 1980s ? which was the last time farmland values dropped deeply for an extended period.