Remember that IQ regresses to the mean, and interests are rarely heritable. What made your grandfather a good farmer is unlikely to make you a good farmer, ergo family farms are unlikely to stay in the same family.
Good point. Although where are the fresh farmers ready to take over such farms? Surely the owners would want to sell to a smaller farmer.
The young farmer wannabe cannot secure financing to start farming. It's almost as difficult to pass a farm to the next generation. All input costs are way too high. When a used 4wd tractor sells for 250,000 or more, it's impossible to pay for it and everything else with$6/bushel corn. I am part of a family farm that is transitioning to the 4th generation. My generation is sacrificing equity to help make it work.
Where is the system broken? What would make generational farms possible, and make it possible for farmers just starting out?
It's similar to other industries. People work on farms, do well, buy a farm, and do their thing.
(post is archived)