An ag economist expects rising land values to hit a wall as interest rates continue to increase.
“When those rates go up, farm values tend to go down.”
Matthew Gammans with Michigan State University tells Brownfield farmers need to prepare for uncertainty.
“We don’t really know where the Fed will go,” he says. “We think we have some idea but there’s actually uncertainty about exactly what rate that will end up at.”
His research found Michigan farmland prices increased as much as 15 percent in the past two years.