I've read about this before, but a recent article got me thinking about it again.
Long-term (whether that be 10 years, 50 years, 100 years......) this is going to cause problems.
American soil. Those are two words that are commonly used to stir up patriotic feelings. They are also words that can't be taken for granted, because today nearly 30 million acres of U.S. farmland are held by foreign investors. That number has doubled in the past two decades, which is raising alarm bells in farming communities.
When the stock market tanked during the past recession, foreign investors began buying up big swaths of U.S. farmland. And because there are no federal restrictions on the amount of land that can be foreign owned, it's been left up to individual states to decide on any limitations.
It's likely that even more American land will end up in foreign hands, especially in states with no restrictions on ownership. With the median age of U.S. farmers at 55, many face retirement with no prospect of family members willing to take over. The National Young Farmers Coalition anticipates that two-thirds of the nation's farmland will change hands in the next few decades.
This quote sums things up very well:
"One of the main reasons that we're watching this ... is because once a foreign entity buys up however many acres they want, Americans might never be able to secure that land again. So, once we lose it, we may lose it for good."
"may" ??
No, it's gone. And these foreign landowners have little to no true loyalty to the land. To them, it's an asset.
Yes, this is going to cause problems.
Grace & Peace & Love to you all -
Matt