I once wrote a story that looked, among other things, at how construction of new houses was crippled during the early 1980s by sky-high interest rates. Would-be borrowers faced astronomical monthly payments, and few people were able to swing financing for a new house.
Times have changed. Today, interest rates are at rock-bottom levels. That’s been having a huge impact on area agriculture, affecting everything from land prices to machinery sales.
High crop prices and good yields are the biggest drivers in the region’s ag economy. But low interest rates are important, too.
Read my cover story in the Dec. 10 issue of Agweek.