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TABLE OF CONTENTS:
1. Land And Farm Bulletin Combined Winter Issue
2. Forestry Wrap: Closures, Carbon, Conferees
3. Senate Passes Farm Bill
4. In AZ, Santa Claus Brings Land
5. Biz/Multi-Family Mortage Debt Grew
6. Feds Open Fourth China Ag Post
7. Recent Properties
Land And Farm Bulletin Combined Winter Issue
We have great news for you: we're combining our January and February Land and Farm Bulletin issues into one spectacular winter issue. It'll be bigger and better and, yet, the same great advertising with many new and wonderful properties, from mountain ranches to valley farms and everything in between. If you subscribe or advertise, you'll receive the winter issue right around February 1, 2008. If you buy it on the newsstand, it should be available at the same time. Again, the winter issue is coming on February 1. You may have noticed we have a stronger binding now - well, that will continue as we grow and grow. In the meantime, your can always check for new properties online or in the monthly newsletter. By the way, our next newsletter will be coming out in the last half of January, so keep an eye out if you're interested in the latest properties. As always, we are here to answer your questions at customerservice@landandfarm.com and at 1-888-FARM-BUY.
Forestry Wrap: Closures, Carbon, Conferees
Forestry is having a tough year as various natural and economic forces conspire to either shrink production, remove supply from the production chain or restrict harvesting, while small glimmers of progress on the preservation front may aid climate change and conservation efforts.
Along with sinking housing starts in the U.S., a Finnish firm is shuttering a Canadian processing plant: Finnish paper and forestry group UPM-Kymmene said this month it would shut a plant in Canada, temporarily close other units and trim some 680 jobs, citing high production costs. The Miramachi paper mill that makes magazine paper and was temporarily closed in August 2007, will remain so, on impacts from strong Canadian dollars, Earthtimes.org reported.
And, Vermont - one of nine northeastern states that joined forces in 2006 to create the Regional Greenhouse Initiative - is reviewing how its existing forests, which are 78% of the state, can sequester more carbon and produce a new stream of revenue from the tradable carbon credits they produce. Selective thinning, low-impact logging, and extending harvest rotations will not only sequester additional carbon, according to a report, they will simultaneously improve the health of forests, the Rutland Herald said.
Meanwhile, Reuters reports that Bali climate conferees are working on a pay-for-preservation scheme for developing countries. Now, if we could only figure out how to control the woolly adelgid, a pest that is decimating eastern U.S. hemlock forests, as described recently in The New Yorker Magazine.
Senate Passes Farm Bill
The U.S. Senate has OK'ed, 79-14, a $286 billion farm bill. The measure improves farm income protection and makes investments for the future in energy, conservation, nutrition and rural development initiatives. Differences between this bill and the version of the farm bill passed by the House of Representatives earlier this year will now be worked out in conference between the two chambers.
That looks like a veto-proof margin; President George W. Bush says the bill provides subsidies to the wealthiest of farmers, and he'll reject the measure. The bill expands the Fresh Fruit and Vegetable Program to reach nearly 4.5 million children in elementary schools nationwide. It also provides investments in farm-based energy by creating initiatives with financial incentives to help farmers transition into biomass crops, and supports the construction of biorefineries for cellulose ethanol with a loan guarantee program that will provide up to 80 percent of total project cost with a loan cap of $250 million. The bill expands markets for biobased products, and invests in farm-based energy R&D, and in helping farmers, ranchers and rural small businesses move to renewable energy and energy efficiency, the Environmental News Service said.
Meanwhile, small-farming is showing some resurgence in northern Illinois. James Theuri recently ran a well-attended small farm seminar at Kankakee for the University of Illinois Extension Service. " The small farm is here to stay," Theuri said. "People have decided to go back to the land and they know that a market exists for their produce, what with all the hype now about pesticides and all that stuff," an article in Daily Journal.
"I stressed to people that they are very lucky to be in the collar counties of Chicago because you couldn't do any better for the market. It is right here in your backyard."
In AZ, Santa Claus Brings Land
The Wall St. Journal offered a rare upbeat note this month in the gloomy Southwestern housing market: Phoenix, AZ land sales are occurring at a brisk pace as developers unload platted lots and permitted land at what all agree are great valuations. Wolff Co. and Langley Properties, two local real-estate investment firms, recently paid $70 million to acquire nearly 7,000 acres of residential land, or about 23,000 house lots, on the far outskirts of Phoenix, from D.R. Horton Inc. John Laing Homes, a large privately held Southern California builder and subsidiary of Dubai-based Emaar Properties, bought 136 house lots from developer SunCor. Some of these land-sales are taking place at nearly 60% to stated book value from six months to a year earlier, the newspaper says.
Biz/Multi-Family Mortage Debt Grew
The level of commercial/multifamily mortgage debt outstanding grew by 2.8 percent in the third quarter, exceeding $3.2 trillion, according to the Mortgage Bankers Association (MBA) analysis of the Federal Reserve Board Flow of Funds data.
The $3.22 trillion in commercial/multifamily mortgage debt outstanding recorded by the Federal Reserve was an increase of $87.7 billion from the second quarter 2007. Multifamily mortgage debt outstanding grew to $813 billion, an increase of $23.5 billion or 3 percent from the second quarter.
"The third quarter included the periods immediately before and immediately after the dramatic adjustments in the capital markets," said Jamie Woodwell, MBA's Senior Director of Commercial/Multifamily Research. As a result, commercial/multifamily mortgage debt outstanding grew to a new record $3.2 trillion "but the quarter-over-quarter change in mortgage debt outstanding fell from $107 billion last quarter to $87.7 billion this quarter. Even with the drop, the $87.7 billion increase in Q3 still marked the fourth largest increase on record."
The Federal Reserve Flow of Funds data summarizes the holding of loans or, if the loans are securitized, the form of the security. For example, many life insurance companies invest both in whole loans for which they hold the mortgage note (and which appear in this data under Life Insurance Companies) and in commercial mortgage-backed securities (CMBS), collateralized debt obligations (CDOs) and other asset backed securities (ABS) for which the security issuers and trustees hold the note (and which appear here under CMBS, CDO and other ABS issuers).
Feds Open Fourth China Ag Post
U.S. exporters to Asia have a new China address. The U.S. Department of Agriculture in December opened a new agricultural trade office in Chengdu, the capital of southwest China's province of Sichuan. Chengdu is China's fifth most populated city in a region of nearly 200 million people. Rising per capita incomes and steady economic growth are creating new demand for U.S. foods and beverages in this region. Along with offices in Beijing, Shanghai and Guangzhou, the Chengdu office is the fourth USDA agricultural trade office on mainland China and the 102nd overseas office staffed by USDA in 82 countries around the world. China imported roughly $8.2 billion worth of U.S. agricultural products in fiscal year 2007, a record figure. Bulk and intermediate products like soybeans, cotton, hides, meat, and poultry accounted for a large portion of that total. While U.S. bulk commodities have traditionally fared well in this market, the market for U.S. soybeans and cotton is the largest for the United States. U.S. consumer-ready foods like nuts, dairy products and wine made the biggest gains in 2007 with a 44 percent increase over fiscal year 2006.
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For more information visit http://www.LandAndFarm.com.
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| Revolutionary? Affordable History off the Jersey Turnpike by LandAndFarm.com Staff
Living large in the late 18th century was not a revolutionary idea - that's just how it was. Nearly every room in this central New Jersey mansion has a fireplace, and the barn is three-stories high.
Even before New Jersey ratified the U.S. Constitution in 1787, a stately, albeit smaller then, country house went up in the quiet farmland and woods near historic Mount Holly, NJ. Jacob Merritt, a local man of some importance, built his family home in 1785, just two years after the British and Americans signed the Treaty of Yorktown, ending the American Revolution, and settling the United States of America as an independent nation.
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