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Deciding whether to buy or rent farmland can be a difficult decision. Lance Stockbrugger explains the benefits of both in this video.
· Interest rates affect land prices – the lower they are, the less overall cost for the land
· Far too often, people make land purchasing decisions based on emotional reasons rather than economic truths
· Interest rates also affect whether you should sell or keep your land
· Relationships are key in land rental – both parties need to be well informed so they can work together as a team