Some fascinating stuff in a Bloomberg article on how corn farms have replaced New York lofts as hot property:
- Price increase y-o-y of crop land in Idaho/Indiana: 35%/16%
- Price increase y-o-y of Manhattan lofts: 12%
- U.S. farmland area decrease 1981-2001: 9.6-million acres
It’s partly about surging demand for agricultural products, but also about scarcity, as the above figure shows.