2007 Michigan Land Values and Leasing Rates

Eric Wittenberg and Stephen B. Harsh

No 6317, Agricultural Economic Report Series from Michigan State University, Department of Agricultural, Food, and Resource Economics

Abstract: Land is a natural resource that is valued for many reasons. Farmers utilize land to earn their livelihood and as a store of wealth for future retirement. Potential rural residents have increasingly sought open space for a home site and pursuit of a lifestyle. Developers seek financial opportunities to invest in and develop it for non-farm uses. Recreational needs are often met through use of land. For some, land is viewed as an investment and a hedge against inflation. This myriad of demands for land combined with its fixed supply continually alters its market price, which is a monetary measure of its perceived value.

Keywords: Land; Economics/Use (search for similar items in EconPapers)
Pages: 27
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:ags:midaae:6317

DOI: 10.22004/ag.econ.6317

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