Farm sector real estate debt is hitting record highs.
According to data from USDA, it is expected to hit $375.9 billion in 2023. The survey showed debt has been increasing continuously since 2009 and is expected to be 87 percent higher this year than it was back then.
USDA also reports the average value of farm real estate reached a record $3,800 per acre in 2022, which is almost a 12.5 percent increase from the year before.
