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US Farmland Escapes Real Estate Slump as Prices Soar to Record

  • Midwest prices jumped 20% in the third quarter from 2021: Fed
  • “I believe we’re at the start of a decade-long trend”: Schultz
    

    

Photographer: Daniel Acker/Bloomberg

Buying a plot of land in rural America has never been so expensive. And that’s even with soaring interest rates.

Rising commodity prices mean farmers made record amounts of money this year, spurring a rush for space to plant in 2023. More demand comes just as people fled to the countryside during the pandemic — with non-metropolitan areas growing faster than urban ones — and investors turned to fields as a hedge against inflation.