Springville Herald | 1947-02-20 | Page 5 | Farm, Land Values Expected to Drop

TARM, LAND VALUES EXPECTED TO DROP With land prices as they are, is this a good time to buy a farm? No, concluded most of the economists econ-omists who attended the meeting of the American Farm Economic Association in Philadelphia, Farm Journal reports. Farmers should have at least one ; good year left before their income slides off too seriously, the major- i ity thought. But at that point they reached the end of their j agreement. Some said they believe farm in- j comes will level off about 25 per cent over 1940 levels. Others thought it would slide all the way back to the 1940 mark. You'll have to pay a "premium" over pre-war prices for almost any farm you buy now. If you can't pay that premium out of better-than-average farm income next year, you may be a heavy loser. For land values will surely follow fol-low income down sooner or later, said the economists, although they probably will fall later than farm income does. If you buy a farm now, make a big enough down payment so you can keep up your payments on the balance when your income is lower than it is today.