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My stepdad has owned his ranch for 30+ years, before that he worked it while his dad owned it. He hasn't had a "normal" job since the 80s. I can tell you confid
by frankfrank13 2y ago
My stepdad has owned his ranch for 30+ years, before that he worked it while his dad owned it. He hasn't had a "normal" job since the 80s. I can tell you confidently he is barely scraping by, but there's not exactly a lot of options. The mortgage on these ranches are typically very low interest, but VERY long time horizons, for much much more than a typical home. Add loans for tractors, livestock, etc you're talking about a mountain of debt.
Sure I don't recommend young people getting into it, but I don't think you really understand long-time ranchers here.
- HeyLaughingBoy 2y agoExactly. The bottom line is that (most) people aren't stupid. If they're doing something that doesn't seem rational, it's most likely because you aren't seeing it from their perspective and are lacking information. If the ranchers had what they considered to be better options, they'd go for it.