Springville Herald | 1947-06-12 | Page 5 | Farm Land and other Real Estate Prices Up

FARM LAND AND OTHER REAL ESTATE PRICES UP Real estate values in 24 states are not above the inflationary peak 0f 1920 and farm real estate values val-ues are about 92 percent above the 1935-39 average, Secretary of Agriculture Ag-riculture Clinton P. Anderson has revealed in calling a meeting of the nation's agricultural and business busi-ness leaders in Washington, D. C, 0n June 9. Secretary Anderson recalled the land boom of World War I when many farmers incurred heavy debts to purchase farms. The decline of farm income in the 1920's and again in the 1930's caused widespread wide-spread distress among farmers and lending institutions. The average size of farm mortgages mort-gages recorded by various lenders in the last half of 1946 as compared com-pared with the last half of 1940 has increased from 17 on mortgages mort-gages held by Federal Land banks to 116 percent held by individual lenders. Commercial banks' loans are 68 percent larger and loans made by insurance companies are up 38 percent. All groups of lenders lend-ers can contribute to stability in farm real estate by holding loans to a reasonable amount, the letter continued. Developing voluntary activities for discouraging further inflation in farm real estate prices and excessive expansion of debts by farmers will be considered at the conference.