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Farm Real Estate Debt to Hit Record High in 2023

Posted May 5, 2023
in Top Ag News

Woman in home office reviewing paperworkFarm real estate debt is expected to reach a new record high in 2023. USDA’s Economic Research Service shows debt tied to real estate could hit $375.9 billion this year. Farm debt has been steadily climbing since 2009 and, when adjusted for inflation, is expected to be 87.5% higher this year compared to 2009.

Real estate debt has historically been similar to non-mortgage debt in agriculture, but that has changed in recent years. Non-real estate debt has climbed 11.9% year over year in 2014 inflation-adjusted dollars. But it declined after 2017. Meanwhile, 2023 is expected to show a 33% higher than the ten-year average real estate debt while non-real estate debt is expected to drop by 10%.

Read more on farm real estate debt here.

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