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- Title
Assessing the Investment Prospect of Farmland: Evidence from California.
- Authors
Xiaowei Cai; Cosgrove, Austin; Paul, Jacob
- Abstract
We are comparing the Price-Rent ratio of farmland in California with the Price-Earning ratio of Standard & Poor's 500 Index between 2009 and 2016. Using the ratios on average, we find walnut land, citrus land, and wine grape land had been a better investment opportunity than the stock market. In addition, we investigated the factors that influence the farmland values. Our estimation results are consistent with prior research. The farmland price is positively impacted by the production and price of the commodity on the land. The value and the investment prospect of farmland vary across commodities and regions.
- Subjects
CALIFORNIA; AGRICULTURAL productivity; VALUATION of farms; AGRICULTURAL prices; AGRICULTURE; INVESTMENTS; STOCK exchanges
- Publication
Journal of the American Society of Farm Managers & Rural Appraisers, 2018, p210
- ISSN
0003-116X
- Publication type
Article