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Show City Folks Helping To Increase Price Of U.S. Farm Land WASHINGTON, D. C.-The agrl-culture agrl-culture department reports that city folks with money and worries about possible further shrinkage In Its buying power are helping to inflate the farm-land market. Many of the new buyers are businessmen and investors who are seeking good farms as an investment invest-ment hedge against inflation, the department reported. As a result farm prices Increased on a national average basis 3 per cent between July and November. They now are 5 per cent above the record set in March, 1920. The department also predicted further increases in prices, as more people seek what they consider to be safer places to invest their savings. Also contributing to the increase is the improved farm-product prices. Some buying is being done by farmers who already own land and who wish to invest surplus cash in real estate and at the same time take advantage of the better farm-produce farm-produce prices. According to one prediction, farm Incomes in 1951 will be at least 15 per cent higher than in 1950. The department said land values advanced in all states from July to November. The east north central cen-tral states showed the largest average gain for any region 0 per cent but the west north central, west south central and pacific regions re-gions were up S per cent. Average prices were higher than a year ago In all but three states. Florida showed the largest gain 19 per cent largely because of favorable returns from citrus fruits and pasture lands. During the year ...W.Htf.0 w. V f L Vl.ll U . occurred in Minnesota, Iowa, Illinois, Indiana and Texas. There are also reports that many city people are buying farms as possible retreats In the event of war. Many seem to feel that in case large cities should be bombed it would be nice down on the farm gain. |
