Forecast bad for “buyaspora”, even worse if they’re farmers

LAST week’s Economic and Social Research Institute report of the beginning of the end of the 10-year Irish economic boom should be heeded by farmers.

Many farmers would say the boom passed them by. However, it boosted the value of farmland, and farmers have been encouraged by the banks to borrow for investment against the increase in value of their land banks.

Financial institutions have been very keen to lend against the security of the farm.