In the 1980’s we all know that a bubble formed in agricultural land values which resulted in plummeting land values, which in turn did not reach back to peak levels for 10-15 years. Since 2004 land values have been skyrocketing to levels 5-6 times that of the highest peaks of the bubble from the late 1970’s. This has bred increased concern for a similar following bursting bubble response. As land value prices have recently begun to decrease, apprehensions have increased. See Figure 1.

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