Not trolling, serious question.
A family member passed - in his estate he left me farmland (wheat, not irrigated / corn, irrigated). I have been reading about a farmland bubble with the high prices and all - the price per acre has really sky-rocketed and I guess the thought process is that when (if) commodity prices slump / crash (when fed pulls back) that not only will the commodity prices slump, but that farm-land prices will see a dramatic fall.
The land is in kansas and nebraska and is managed by farmers - I just collect a paycheck and send in money for supplies every once in a while. The money is great right now, but I am wondering if anyone has any thoughts as to what I should do? Sell the land / Keep it ???
I can justify in my mind the idea that there is real demand behind the prices ( worldwide shortages, growing population / income levels in China leads to more wheat/corn consumption) but it seems like for every bubble there is a strong argument that there is real demand (everyone will buy everything on the internet, etc etc)......
I am young and have a good job / do not depend on the income. Also there is some oil/gas income, and I think that even if I sell the land I should retain the mineral rights (b/c all these new shale formations cropping up everywhere)
Any thoughts would be wonderful if anyone has an opinion or any experience with this type of thing.