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Honored Advisor
Posts: 17,910
Registered: ‎05-13-2010

County platbook from 1938

This was from a elevator newsletter.  In 1938 one township had 3200 acres owned by the bank, another 5260 acres owned by the bank and still another 3340 owned by the bank.  There`s 23,040 acres in a township so roughly in the 30s 20% of county farmland was owned by the bank and selling between $75 and $125/acre.

 

Just to put it in perspective, 3% of land comes up for sale each year and that keeps the price stable, if + 20% was for sale, that would really put the damper on prices for years.