A Resurgent Rural Economy Spurs Farmland Values
2004年美国农村经济强劲复苏，农业和非农部门收入增长推动农田价值飙升，预计2005年将继续上涨，但需关注贸易和疾病威胁。
The rural economy broke free from the reins of recession in 2004with an especially strong performance in the farm sector. Netfarm income easily surpassed the record high of 2003. And the weakness that plagued the nonfarm rural economy in recent years appears to have been replaced with stronger job growth and higher incomes. Strong performances in the farm and nonfarm sectors have led to soaring land values. Rising incomes are often capitalized into asset values, and the past year was no exception. Rising rural incomes quickly led to strong land value gains. Since real estate is rural America’s most important asset, strong land values are often viewed as an indicator of a healthy rural economy. Looking ahead to 2005, healthy rural incomes in agriculture and on Main Street will continue to underpin farmland value gains. While farm incomes are expected to remain strong, the industry must keep a close watch on trade developments and an emerging disease threat to the soybean crop. The nonfarm economy is expected to strengthen with the rest of the nation. Growth in jobs and wages in high-skilled industries is