Sustainable Land Values and Price Premiums for North American Farmland
This paper analyses current farmland prices in five US states and five Canadian provinces to assess whether and to what extent there are current price premiums for “irrational exuberance” and non-farm influences such as urbanization, hobby farms, commercial development and other non-farm uses. It appears that the farmland market in North America is in a boom period, showing significant premiums for irrational exuberance. If interest rates continue to be low and commodity prices return to higher levels, these premiums could get even larger in the next few years. However, if inflation and interest rates rise while commodity prices remain lower, we may see a significant farmland price correction.
No Supplementary Data.
No Article Media
Document Type: Research Article
Publication date: December 1, 2016
More about this publication?
- An international forum and source of reference for those working in agricultural management and related activities, including social, economic and environmental aspects of food production and rural development.
- Editorial Board
- Information for Authors
- Submit a Paper
- Previous issues of the Journal of Farm Management
- Previous issues of the Journal of International Farm Management
- Ingenta Connect is not responsible for the content or availability of external websites