Study of Land Sales by Government and Insurance Lenders in Seven Southeastern Minnesota Counties.
The impact of farm foreclosures on land tenure patterns and land use was examined in Fillmore, Goodhue, Houston, Mower, Olmsted, Wabasha, and Winona counties. The study, for years 1983 through mid-1989, showed that sales of foreclosed land by government and insurance company lenders are increasing. The typical buyer intends to retain ownership and to continue using the land for crop production. Land sold by insurance lenders brought higher prices than land sold by government lenders. Insurance lenders also tended to sell larger parcels and to hold land longer than government lenders.