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Because farm real estate represents much of the value of U.S. farm
sector assets, large swings in farmland values can affect the
financial well-being of agricultural producers. This report
examines both macroeconomic (interest rates, prices of alternative
investments) and parcel-specific (soil quality, government
payments, proximity to urban areas) factors that affect farmland
values. In the last few years, U.S. farmland values have been
supported by strong farm earnings, which have helped the farm
sector in many regions to withstand the residential housing
downturn. Historically low interest rates are likely a significant
contributor to farming's current ability to support higher land
values. About 40 percent of U.S. farmland has been rented over the
last 25 years. Non-operators (landowners who do not themselves
farm) owned 29 percent of land in farms in 2007, though that
proportion has declined since 1992.
As broadband-or high-speed-Internet use has spread, Internet
applications requiring high transmission speeds have become an
integral part of the "Information Economy," raising concerns about
those who lack broadband access. This report analyzes (1) rural
broadband use by consumers, the community-at-large, and businesses;
(2) rural broadband availability; and (3) broadband's social and
economic effects on rural areas. It also summarizes results from an
ERS-sponsored workshop on rural broadband use, and other
ERS-commissioned studies. In general, rural communities have less
broadband Internet use than metro communities, with differing
degrees of broadband availability across rural communities. Rural
communities that had greater broadband Internet access had greater
economic growth, which conforms to supplemental research on the
benefits that rural businesses, consumers, and communities ascribe
to broadband Internet use.
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