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Dr Sarah Taber @SarahTaber_bww
, 8 tweets, 2 min read Read on Twitter
Farmland is taxed at a lower rate than residential property (in US)

so if you, say, buy land that you want to turn into residential properties later aka engage in real estate speculation

you need to bide the time before sale by doing some kind of farming on that land.
You don't need to *make money* on that farming, bc your business plan is to make money on the development. Goal for the farming phase is more like breakeven or slight income.
The ideal potemkin farming is something very low-maintenance that doesn't involve trees or outbuildings, bc you have to clear those before building houses. $$$$

Orchards, dairy, greenhouses, those are all RIGHT OUT. Even row crops are too much fiddling for a lot of speculators.
Real estate speculators looove hay. Don't have to plant, spray, keep fences, scoop poop, etc.

"But making hay is the worst hardest work"

Heck yeah it is. But *being the landlord* for hay is real easy. And these decisions are usu made by landowner, not the person baling hay.
You'll also get a lot of situations where the real estate speculator makes their kids make the hay & tells themselves "it'll teach them hard work & character" or some bullshit.

nah mate you're teaching your kids to waste precious time on a tax scam
In most situations in the US, hay is completely unnecessary for raising livestock.

It's a band-aid to cover for half-baked land & herd management.

Greg Judy's thoughts on this:

Jim Gerrish:…
And because the hay supply is driven by "lots of folks who are pretend farming," the price of hay is kept close to cost or even, sometimes, below cost.
Anyway... that's the US hay market.
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