During which decade did farmland prices escalate quickly, leading to the Farm Debt Crisis?

The rapid escalation of farmland prices that contributed to the Farm Debt Crisis occurred primarily in the 1970s. During this period, a combination of several factors led to significant increases in land values. The agricultural sector experienced a boom due to high global demand for agricultural products, particularly as a result of the rising population and increased exports, especially following the Green Revolution which enhanced productivity.

Additionally, easy credit availability and high inflation rates during the 1970s allowed many farmers to borrow more money than they could afford, leading to an unsustainable debt situation. As farmland prices soared, many farmers invested in expanding their operations by purchasing additional land, often financed through loans with variable interest rates. When the economic conditions shifted in the late 1970s and into the 1980s, including falling crop prices and rising interest rates, farmers faced financial strain. This culminated in widespread bankruptcies and a significant crisis in farm debt, where many could not meet their debt obligations.

The other decades listed do not align with the critical rise in farmland values associated with the Farm Debt Crisis as closely as the 1970s does. In the 1960s, while there were some increases in farmland values, they were not as pronounced, and the factors driving