Morrisons Cove Herald - Putting cows on the front page since 1885.

By ASHLEY HICKS
AgChoice Farm Credit 

The Soaring Costs of Land and Lumber

 

Rising real estate prices are all over the news, with reports of homes selling well above asking prices. A similar phenomenon is happening to farmland and timberland tracts, impacting many farmers and forest products operators. Record high lumber prices are also causing challenges across the state, especially with construction projects.

Overview

To understand the reason for these rising costs, look to supply and demand. For buyers participating in today's real estate market, expect to pay more for your property compared to two years ago.

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