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Jim Rogers is regularly suggesting that we should be buying farmland and that college kids should forget Wall Street and start driving tractors.
Robert Shiller, however, thinks farm prices may have risen too fast already. His comments today:
- He isn't confident that real estate prices are going to keep going up for the longer term because of all of the uncertainties that exist following the financial crisis.
- He thinks we may only be half way through an extended weak period in the economy.
- Shiller believes that there may be a bubble in farmland where farm prices have risen 20% in the past year.
- If everyone is talking about farmland then we will officially know that there is a bubble.
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