Pifer Auction President Kevin Pifer says the amount of cash in the market is starting to deteriorate. As the rising interest rate environment continues, the interest in land purchases will decline. “I’m not going to say we’ll see a downturn in land values, but people may lose interest at these values.” Land can still be a good investment. “Land is on everyone’s minds when it comes to 301 land exchanges. They may sell an apartment building in Minneapolis and do an exchange into farmland. It’s a good asset to have, building the balance sheet.”
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