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Projected real estate debt more than double nonreal estate debt in 2023; both increased steadily since 2000

  • Farm Economy
Bar chart showing nonreal estate and real estate debt, in 2023 dollars, from 2000 through forecasted amounts for 2022 and 2023.

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USDA’s Economic Research Service projects that U.S. farm debt is expected to rise to a record level in 2023, with interest rates as the fastest-growing production cost. However, when measured using solvency and liquidity ratios, the potential impact of higher interest expenses is minimal.

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