Shaun Wildman on land values

[sumdumguy]

Bank wants him to buy it back - hilarious - the delusional banks cause the problem then want someone else to take the fall. I guess 10 cents on the dollar would work.

[wheatking16]

Thanx Wheatking, I will try to reconnect with old friends.

He is still going strong. Plays hockey 3-4 times a week in two different provinces.

[wheatking16]

Talked to a guy from Montana who sold some land to monette for almost 4 times the going price. Now the bank wants him to buy it back.

Darrell did more for land values than any single individual ever has.

[shtferbrains]

When all that land sells do you think that will be the reference price?
Will that be what banks look at when calculating net worth for all their farm financial policy?

Possibly effect the investment outlook that land prices always go up?

[wheatking16]

When all that land sells do you think that will be the reference price?
Will that be what banks look at when calculating net worth for all their farm financial policy?

Possibly effect the investment outlook that land prices always go up?

My guess is that Darrell was able to accumulate by paying more than the next.

So what is that price now?

I suspect that if the bank used current valuations in the past, they will continue to make the necessary adjustments.

Whatever, that is.

That is one of the messages I tried to share in the Margin Call Series Part 1.

[sumdumguy]

Being involved in grain marketing for 40 years, I can say unequivocally that the companies paying the most disappear the fastest. Here today-gone tomorrow. Just sayin!

[LEP]

The bank just wants to hook in someone else's equity. The debt is mostly in one loan. So they will take 100% of the proceeds as he sells down.

Then it is unsecured and CRA that will be left holding the bag in the end.

CRA won't know they are owed money until a few months after the year end.

[shtferbrains]

So you think the banks will bump CRA out of the always get paid spot?
Hard to say it but I'd rather the banks get covered than the CRA get the money to make it disappear?

Be surprised if CRA doesn't have a team on this watching closely?
They are more vicious than the seed companies about getting their cut.

[AlbertaFarmer5]

So if one were to take the published values for their assets and liabilities, by the time the land is sold, and the capital gains taxes are paid, will there be anything left over?

[bucket]

So if one were to take the published values for their assets and liabilities, by the time the land is sold, and the capital gains taxes are paid, will there be anything left over?

Highly unlikely Monette will have capital gains, more than likely he going to use capital losses to help him out of this mess.

At a billion in debt and 274000 acres for sale , he has to sell for an average of $584,000 per quarter.