U.S. Farmland Values Fall for First Time Since 1987

U.S. farmland values declined last year for the first time since 1987 as the country suffered the worst housing crisis since the Great Depression.

The value of all land and buildings on farms averaged $2,100 an acre at the start of this year, down 3.2 percent from a revised $2,170 a year earlier, the U.S. Department of Agriculture said today in an annual report. The change compares with a 19 percent drop in urban home prices. (more)