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Insurer Says Farms Prospering
AP Business Analyst John Cunnife reports Equitable Life and Prudential Life as the leading insurers in farm lending with a combined $2.45 billion in loans to 25,000 borrowers across 47 states. Walter Penn of Equitable notes farm real estate valued at about $423 billion with $51.9 billion in debt, emphasizing earnings over market price and a 25 percent down payment to reduce land speculation.
MENTIONED IN THIS ARTICLE
John. Cunnife
NEW York
Walter Penn
Equitable Life Assurance Society
Penn
Equitable
Minnesota
Equitable and
Prudential Life
Federal Land Bank System
Farmers Home Administration