Business & Finance: Farm Buying

Many U.S. citizens are buying farms, to hedge themselves against inflation. This general belief was confirmed when the National Association of Real Estate Boards reported on its survey of 208 of its farm-market specialists. They found that the fear of inflation dominates 40% of all farm purchases. Other sales are routine: 56% to farmers, 38% to investors, 6% to city folk who have had a lifelong itch for cows, chickens and the smell of manure. Such purchases have boosted prices 15% since 1940; the trend is still up. There is a newer reason for buying farms now: people want to eat, and one good old-fashioned way is to grow food.