every year there is farmland lost to development. That will keep prices up as there is less available. Second, farming is a cash poor asset rich occupation. You do it for generations so the cost is spread out. It takes a family income to keep a family farm going. You work the margins, do your own work, keep old vehicles etc. My family started from scratch and threw everything we had in the pot to keep from losing the farm in the first 10 years. Pretty solid after 30. We kept adding land as we could, some is worth 3 times what we paid, some is worth 30 times what we paid. Figured out the ideal amount of cattle we could handle with a little buffer. We could have made more money by selling some timber, hunting leases etc but decided to keep it more simple and rely on more on sweat. And a 1984 4x4.