My guess is that they are counting on high inflation coming. It's the only way such a purchase could make any sense at all.
Before the real estate bubble really took off my dad tried to buy the farm next to mine for $3000/acre which was really high at the time. He was outbid by a guy from the city. This guy sat on it for about 5 years and is now advertising it for $7500/acre. It's not even half tillable and what is tillable is mostly gumbo. The whole thing would be pretty funny if it wasn't so sad.
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Today's Featured Article - Women and Tractors - More Views From the Farmer's Wife - by Teri Burkholder. The top ten reasons why the judges wouldn't let you participate in the stock antique tractor pull: Hey, this is stock! It came with that V8 in it! That "R" on my tires stands for "really old" not radial! Blue gas? We thought it was a pretty color! What wire hooked to my throttle?
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