A panel of Purdue University experts will discuss factors behind the steady rise in farmland values during a free webinar. While farmland values grow, economic forces continue to pull down other real estate assets.
The online program takes place 1-2 p.m. EST Jan. 10, 2011. To register, visit the webinar home page at http://www.agecon.purdue.edu/commercialag/progevents/landvalueswebinar.html, click on the “Register Now!” link in the “Registration Information” box and complete the online registration form.
The panel consists of agricultural economists Mike Boehlje, Craig Dobbins, Brent Gloy and Chris Hurt, and Bruce Erickson, Purdue’s director of cropping systems management.
“We’ve continued to see farmland value increases, even when the overall economy was in a recession and when real estate values in housing and the commercial markets fell off,” Boehlje says. “According to survey by the Chicago Federal Reserve Board, farmland in Iowa increased in value by 13% between the fall of 2009 and fall 2010. Our survey for Indiana shows that farmland values since 1985 have gone up about 270%, or in essence, about 5.5% per year.”
Webinar panelists will talk about the forces driving land prices higher and the events that could keep them moving up or down. Among those forces are farming incomes, interest rates, development potential and inflation, Boehlje says.
“Institutional and outside investors view farmland as a pretty good portfolio asset,” he says.
Boehlje, Dobbins, Gloy and Hurt outline farmland price drivers in their paper, “Farmland Values: Current and Future Prospects.” The paper can be downloaded from the webinar home page and webinar participants are encouraged to read the document before the event.
Those who are unable to view the Jan. 10 program can listen to the webinar by phone by contacting Aissa Good at (765) 496-3884 or firstname.lastname@example.org. The presentation will also be archived online for later viewing.
The webinar is sponsored by the Center for Commercial Agriculture within the Purdue Department of Agricultural Economics.