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If you only know person worth $2 million, they're rich. If you know 10 millionaires, the person with $2 mil might not seem so rich to you anymore.

• geggam 7y ago
  The United States farm real estate value, a measurement of the value of all land and buildings on farms, averaged $3,140 per acre While the average farm size has been increasing approximately two acres per farm each year since 2012, the number of farms is decreasing. Today, the average farm size is 444 acres. 444*3140 1,394,160 US average farmer is a millionaire. Go ask one if he feels rich.
  • tudelo 7y ago
    Do most farmers actually own the land that they work on? I was under the impression that most farming is done by large companies and that there are not many small independent farmers that exist.
    • geggam 7y ago
      When I was working on farms ( 30 yrs ago ) most farmers were still on property they owned. During that time I saw the shift to corporate farms and I dont know that answer as I have found less labor intensive work. Most of the corporate structures I saw were family or a combination of family and friends.
      • JackFr 7y ago
        I think many farmers are pretty levered. Whether its mortgage on the land or loans for operating capital, to make a decent return on equity you've got to borrow.
        • geggam 7y ago
          I would agree with that perspective. I knew a few farmers that owned it all but those have passed on.