Energy boom, crop prices raising value of rural land (complete article from source)
Source: Nebraska.TV
February 23, 2008
KANSAS CITY, Mo. (AP) - The housing slowdown has stifled urban land prices.
It hasn't affected values for rural land across Kansas and Missouri. In fact, they're booming.
A recent survey by the Federal Reserve Bank of Kansas City found that the price of nonirrigated and irrigated cropland in Kansas was up 20.4% and 18.8%, respectively, during the fourth quarter of last year, compared with the same period a year ago.
Values in western Missouri were up 24% and 13%, respectively, during the period. The Federal Reserve Bank of St. Louis, which covers eastern Missouri, hasn't released figures for that area.
By contrast to the rising levels, real estate prices in cities have largely stayed flat or declined.
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