Indiana Land Values Steady

The sharp decline in Indiana farmland values is about over. That's the conclusion of a majority of Purdue land values survey respondents who answered a question on when and at what level land values will "bottom out." Fifty-eight percent of those who responded to the question believe that the low point in land values will be 95 to 100 percent of mid-1987 values. An additional 25 percent felt the low point would be 90 to 94 percent of mid-1987 levels. Thus, 83 percent of the respondents felt that the low point in land values already had been reached or would be no more than 10 percent under mid-1987 values. Over half of the respondents (54%) were of the opinion that 1987 would be the year of the low point in Indiana land prices. An additional 9 percent felt the '-low point occurred in 1985 or 1986. " ~I"'v"-