The Land Report

2018.2

The Magazine of the American Landowner is an essential guide for investors, landowners, and those interested in buying or selling land. The award-winning quarterly is known for its annual survey of America's largest landowners, The Land Report 100.

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T h e stock market has been on a tear in recent years, and some wealthy individuals have been looking to cash out and park their assets in a safe place. at's where land comes in. Paper fortunes appear and vanish in the span of days on Wall Street, but land isn't going anywhere . Investors are particularly interested in productive land — property that can be used to raise cattle, mine minerals, pro- duce timber or grow crops. at's because when the Dow Jones industrial average lost over half its value between 2007 and 2009, over that same period "productive land correction was less than five percent," according to O'Keefe. Like stocks, income, and wealth in general, land ownership is concentrated among the upper class. According to a re- cent working paper by New York Univer- sity economist Edward Wolff, in 2016 the wealthiest 1 percent of households owned 40 percent of the nation's non-home real estate, while the next 9 percent of house- holds owned another 42 percent. at left the remaining 90 percent of households owning just 18 percent of the country's non-home real estate. A 2015 paper by the Department of Commerce's Bureau of Economic Analysis estimated that the total value of land in the Lower 48 states was roughly $23 trillion in 2009, with $1.8 trillion of that value owned by the federal government. e nation's largest private landowner is telecom baron John Malone, with 2.2 million acres — an area considerably larger than the state of Delaware — to his name in 2017. Ted Turner is No. 2 on the list, with an even 2 million acres. O'Keefe says that one common thread among the nation's top private landown- ers is their sports team ownership. Malone and Turner have both owned the Atlanta Braves, while the No. 4 landowner Stan Kroenke, with 1.38 million acres, currently owns the Denver Nuggets, the Colorado Avalanche, and the Los Angeles Rams. Back in 2008, you needed about 76,000 acres to appear in e Land Report's list of the nation's top 100 landowners. Today, the cutoff to make the list is approximately double that figure, some 145,000 acres. e median holdings of the top 100 land- owners rose from 160,000 acres to 250,000 acres over that time period. Top 100 owned 27.2 million acres, similar to the 28.6 million acres in these two states 2007 Top 100 owned 40.2 million acres, similar to the 39.7 million acres in these five states 2017 Maine N.H. Vt. N.Y. Mass. Conn. R.I. Maine N.H. Vt. N.Y. Mass. Conn. R.I. LAND GRAB. Total acreage owned by the top 100 private landowners in 2007 and 2017, expressed in terms of similarly sized states. 24 The LandReport | S U M M E R 2 0 1 8 LANDREPORT.COM SOURCE: THE LAND REPORT e stock market has been on a tear in recent years, and some wealthy individuals have been looking to cash out and park their assets in a safe place. at's where land comes in. Paper fortunes appear and vanish in the span of days on Wall Street, but land isn't going anywhere. " "

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