Larrry
Well-known member
Myt has accomplished more on his young years than some that have only cashed their daddy's checks
mytfarms said:That leads me to believe
Big Muddy rancher said:If nothing else this thread gave us the chance to see who is the mature one. :lol: :lol:
the billionaires are not the reason... in our area it is the fact that it takes a larger chunk of ground to make a living, you can not feed 3 families on a section anymore. the kids move away, and eventually, the 90 year old land owner dies, and the grand kids get ground that they have no ties to. so they cash out.Oldtimer said:Article in yesterdays Billings Gazette about all the big ranches and family operations being bought out by the millionaires and billionaires as investments since the Wall Street Bust... We've been seeing that around here for 15-20 years... One leather company family came into the area- and in a 2 or 3 county area bought upwards of $25 Million worth of ranchs-- leasing back some and putting some into hunting/conservation holdings...
So much anymore being utilized only as an investment- with no long term commitment to the land- the cattle- or ties to the community...Many of the owners don't even live here and see their investment a few times a year if that-- caring only what the accountant tells them the books are saying...
And then if they could get the land- and do a pocket rewarding swap/easement with an environmental or hunting group- that was even better...But in most cases it takes the land one more step out of ever again being controlled by family farmer/ranchers...
"The last 15 years, operating ranches have had pretty good appreciation values," he said. "That's been fairly steady."
With interest rates at all-time lows, and memories of the stock market's crash still fresh, buyers looking for a safe place to park their cash were perfectly situated to take advantage of lower land values. Billionaires were seeking large production ranches that could offer a return of at least 1 to 3 percent, Fay said.
They were the ones paying $15 million to $100 million for larger properties. Mere millionaires were also looking to buy recreation properties, he added, at prices ranging from $1 million to $5 million.
Read more: http://billingsgazette.com/news/state-and-regional/montana/ranch-sales-rise-as-wealthy-investors-put-cash-in-land/article_c0b70ee3-2e86-5a23-83f3-81e1eb281b5a.html#ixzz2KYIJrqcu