shooterdon
Elite Member
- Joined
- Nov 24, 2012
- Messages
- 3,350
- Tractor
- 2019 LS XR4140 HST Cab; 2020 Kawasaki Mule SX; 2021 Bad Boy 54" ZT Elite
Things change.
I see fewer small farms today than 50 years ago. One family near me has over 2000 acres in hay. They have a mix of owned and leased property. All the leased properties are smaller farms that got out of farming.
100 or 200 acre "family farms" are going to keep decreasing. If a family has two or three kids, what happens when the father passes? Most of the kids want to 'cash out'. A farm that supported one family cannot support two or three.
Even if one of the kids wanted to keep farming, how does he address the rights of his siblings? Where does he get the loan for the buyout?
With every generation it gets worse.
One of my friends lives in "The old farmhouse". It was part of a 100+ acre farm his family had at one time. It is down to three acres, and he co-owns the property with three other members of the family. It is not worth much....maybe $60k. His sister lets him live there out of charity as long as he maintains it and pays the taxes. His niece and nephew have not pushed for "their share" yet, but they own 12.5% each. My friend cannot come up with $15k to buy them out.
BTW, the rest of the 100+ acreage was split into smaller parts as people died off. None of the land is farmed today.
Of the 400-500 acres close to me that was farmed 30 years ago, less than 150 is farmed.
I see fewer small farms today than 50 years ago. One family near me has over 2000 acres in hay. They have a mix of owned and leased property. All the leased properties are smaller farms that got out of farming.
100 or 200 acre "family farms" are going to keep decreasing. If a family has two or three kids, what happens when the father passes? Most of the kids want to 'cash out'. A farm that supported one family cannot support two or three.
Even if one of the kids wanted to keep farming, how does he address the rights of his siblings? Where does he get the loan for the buyout?
With every generation it gets worse.
One of my friends lives in "The old farmhouse". It was part of a 100+ acre farm his family had at one time. It is down to three acres, and he co-owns the property with three other members of the family. It is not worth much....maybe $60k. His sister lets him live there out of charity as long as he maintains it and pays the taxes. His niece and nephew have not pushed for "their share" yet, but they own 12.5% each. My friend cannot come up with $15k to buy them out.
BTW, the rest of the 100+ acreage was split into smaller parts as people died off. None of the land is farmed today.
Of the 400-500 acres close to me that was farmed 30 years ago, less than 150 is farmed.