Delmar(Explored)
The Farm Crisis of the 1980's was a war against the family farm.After years of encouraged expansion and low interest rates,many family farms were in deep debt.When the recession of the early 1980's hit,money was tightened up and interest rates went from 7% to over 21% in the course of 2 years.The debt was no longer manageable,and family farms went under to the tune of hundreds per DAY.Agriculture was changed forever.These bankrupt farms were sold off,often for the value of the land not the buildings and homes.Now they sit and decay,a monument to once was but will never be again....
A fascinating documentary of the struggles of family farms in Iowa can be found here...
Delmar(Explored)
The Farm Crisis of the 1980's was a war against the family farm.After years of encouraged expansion and low interest rates,many family farms were in deep debt.When the recession of the early 1980's hit,money was tightened up and interest rates went from 7% to over 21% in the course of 2 years.The debt was no longer manageable,and family farms went under to the tune of hundreds per DAY.Agriculture was changed forever.These bankrupt farms were sold off,often for the value of the land not the buildings and homes.Now they sit and decay,a monument to once was but will never be again....
A fascinating documentary of the struggles of family farms in Iowa can be found here...