The tipline is running hot with stories of forced sales in the dairy sector, with the banks no longer able to sell off farms who can’t cover their mortgages over time. There are no local buyers out there, and the banks are starting to get very nervous about the prospects of recovering their loans.
Trademe has 390 Dairy farms over 100 ha listed for sale, and from what I am hearing from the rural estate agents, there is not much interest in buying dairy at the moment. Word is a lot more are going to come on the market in the next six months.
The socialists in the National Party, David Carter and Amy Adams, need to explain why they want to give an industry in trouble massive subsidies. They cant hide behind the economic growth argument if the arse is falling out of the industry anyway.