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Explores the social impact of the farm debt crisis of the 1980's through interviews with members of an agricultural community.
Income and wealth for farm bus. have changed noticeably this decade. Debt levels have been rising, asset levels have outpaced debt despite a recent fall in land prices, and equity has more than doubled for farm bus. However, recent declines in farm income and falling land prices have raised concerns about the financial position of U.S. farms. Total farm sector debt reached a record $240 billion in 2008, a $26 billion increase over 2007. Debt is expected to decline to $234 billion in 2009. In 1986, nearly 60% of farms used debt financing. By 2007, the number had dropped to 31%. In essence, farm debt has become more concentrated in fewer, larger farm businesses. Lenders and farm operators indicate that real estate accounts for the largest use of farm debt.
Farm businesses' debt-use decisions can affect their growth and survival, as well as the economic vitality of farm-dependent rural communities. Thus policymakers, agricultural lenders, and other farm-sector participants closely follow trends in farm debt. This book is a primer on the use of debt by U.S. farm businesses for policymakers, researchers, and others interested in the financial well-being of U.S. agriculture. It presents data on basic debt-use patterns by farm businesses (in 2011, over 900,000 farms operated as farm businesses based on their size, organisational structure, or the occupation of their principal operator) and explores key trends over 20 years. U.S. farm debt use varies widely by farm size, specialisation, operator age, and other farm characteristics.

Farm Debt

United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Financial Institutions Supervision, Regulation and Insurance

Published: 1985

Total Pages: 290


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