Payette enterprise. (Payette, Canyon Co., Idaho) 1909-1935, 1923-07-19
NOW Is GOOD TIME
TO BUY FARM LAND
SAYS LOAN EXPERT
r.. G.. Quamme Of Federal Farm Loan
Bank Predicts Steady Rise In Farm
Values For Many Years.

/ JlHb1
People are just as wrong in NOT
buying land now as they were when
they all wanted to buy land in 1913.
according to an article by E. G..
Quamme of st. Paul, president OF the
Federal Farm Loan Bank of the sew
enth district, in the National Real
Estate Journal.
Good farming land. according 10
this article, will not go lower, but
will go higher from now on. We are
on the upgrade, It is maintained, and
farming will be better and more pro-
fitabIe in the future. There is no
sound reason, Quamme insists, for
holding off and not buying land now.
The article, in part, follows:
THE buying and selling of real
estate is an essential business. 1t is
inevitable that thousands of our
farms must change hands every
year. Farmers, like others, die. They
| OrNDL41C O1u anu uDobAC " w thN
hard farm work and they become in
capacitated by disease and others
must of necessity take their places.
To secure strong, competent men to
take their places is necessary ser
vice in our public economy, and OF
the highest interest to state and citi-
should be a regular steady volume OF
real estate bushes in both town and
country, every year. The realtorr
therefore, occupies very important
position in our business life.
ITEMS of thousands of our young
farm boys reach majority every year
All these young men are potential
prospects for farm home owners, and
there is a new and never-failing crop
of them every year.
REAL DEMAND FOR SALES
There is, therefore, real and po-
tential demand for land sales every
year. This situation must be taken
care of in a regular and systematic
manner. Otherwise, there will result
a congestion and damming up which.
if allowed to run long enough will
4 lay the foundation for an unnatural
demand and another land boom. This
/ is the condition that confronts US
now. AS a result of the land inf1a-
|! ton and the low prices of farm pro-
/ duct, people have bought little or no
land the past four years. The natural
/ and potential demand has been here
all the time. but it has been damned
up and waiting 1t will break loose
one of these days, and there is dan
| ger that it will approach boom con-
ditions again unless it is controlled.
People are just as wrong now in not
! buying land as they were wrong
when they all wanted to buy land
/ in 1919. What are they waiting for?
Three things stand on, that are caus-
! ing buyers to hold back
REASONS FOR SLUMP
First. they have been waiting fo-
better prices for farm products. bet
ter farm income. in other words. for
! better times in farming.
Second. they have been waiting
for land values to go to rock bot
tom.
Third, they have been waiting for
interest rates to reach the lowest
point.
In answer to all this it can be-
said that we have now seen the worst
in farming conditions. We are on the
upgrade, and farming will be better
and more profitable every year from
now on. We are on the up-curve
again. curve that will take us for a !
continuous swing upward for per-
haps 80 years or longer 1t may be |
gradual. but it will be an up-curve. |
and that is the soundest and best
period to enter as an investor. Bot-i
tom was reached last October, and
they are now on the up-curve also.
been going up steadily the last
month. and if business continued
good this spring and summer there
will be greater demand for money at
higher rates. There is, therefore. MOI
sound or fundamental reason for
holding off and not buying land now.
SHOULD BUY NOW
There is every reason why one
who wants farm. should buy now.
There should be a general revival OF I
farm land business this year, Land is
on the bargain counter Just now. but.
it will not stay there long. The
careful investor viii buy
now and take advantage of the pres
ent situation. The one who waits
will pay for it in higher prices for
land, and may also pay higher rate
Of interest on deferred payments.
There is only one crop of land. I