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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (27079)	6/26/2011 9:06:26 PM
From: Les H	Respond to of 119360

Air ‘exiting the farmland price bubble’ By Steve Jordon WORLD-HERALD STAFF WRITER The figures are from a survey of 158 bank executives in rural and non-urban areas of Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming. An index of 50 is neutral. Higher numbers show expansion, lower numbers show decline. The forecast predicts economic activity in six months.The Midwest’s farmland price bubble may be deflating a bit, a Creighton University economist said Thursday, although a survey of rural bankers still indicates growth in coming months. Responses from 158 bankers in the most recent monthly survey yielded a Rural Mainstreet Index of 56 on a 100-point scale, with numbers above 50 showing economic growth. That’s up from 54.9 in the May survey and 52.6 in June 2010, but down from 59.4 in April, which was the highest reading in four years. The 10-state, nonmetro index, buoyed by high grain prices and good crop yields, has been in the growth zone for eight straight months. Goss said the survey’s farmland price index for June was 62, the lowest level since October and down from May’s 75 but still indicating growth for the 17th straight month. “We are beginning to see some of the air exiting the farmland price bubble,” Goss said, adding that is “not a bad outcome.” omaha.com