Friday 12, August 2022

Farmland

The Chicago Fed survey indicates a huge increase in land values for “good” farmland.

Farmland values for the Seventh Federal Reserve District rose 22 percent in the second quarter of 2022 from a year earlier, roughly matching the year-over-year gains of the previous two quarters. Values for “good” agricultural land were up 2 percent in the second quarter of 2022 from the first quarter, according to survey responses from 137 banks in the District. Twenty-five percent of the survey respondents forecasted higher District farmland values during the July through September period of 2022, and 4 percent forecasted lower values; given the greater share of optimistic next-quarter projections reported by the previous six surveys, the results from the most recent survey suggested shrinking expectations for farmland values to increase during the third quarter of 2022.

The rise of plutocracy

The trend of Gini coefficients is interesting. Globally, between countries, it’s going down (a good thing: a zero Gini means each country )