Plains States See Boom, But Await Bust

Strong farming economy highlights nationwide differences
By Sam Biddle,  Newser Staff
Posted Aug 20, 2008 2:33 PM CDT
Rising corn prices are fueling a boom in American farming communities.   (AP Photo/Temple Daily Telegram, Scott Gaulin)
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(Newser) – Driven by rising food prices and farmers’ access to loans, the Plains states are a bright economic spot amid the nationwide slump, the Washington Post reports. Farm country was able to avoid the housing bust because it also avoided the boom. And retail space is filling up as consumer spending has remained strong.

But not everyone in the region is profiting. Oil, and feed prices, along with the flooding in Iowa, have hurt. And as land prices increase, some see a bubble on the horizon. Said one mayor who used to work in the credit system: "Things just don't go up forever. I don't know when this will end, or whether it will be bad when it does, but this will go the other way."