18 



MASS. EXPERIMENT STATION BULLETIN 387 



When the major factor in farm land values is connected with expectations of 

 future land uses rather than with the current returns in agriculture, it becomes 

 almost impossible for a producer dependent on the farm for his living to carry 

 on stable farming. This is especially true in the case of the farmer who pur- 

 chased his land at an inflated high level and who has to justify his investment 

 on the basis of his returns in farming. 



MIDDLESEX 



NORFOLK 



ESS EX 



BERKSHIRE 



PLYMOUTH 



HAMPSHIRE 



WORCESTER 



BARNSTABLE 



HAMPDEN 



BRISTOL 



FRANKLIN 



STATE 



Chart V. Average Value of Farms and Percentage of Value in Land and Buildings, by' Counties 

 Based on U. S. Census, 1940 



Value of Buildings 



The cost of land is only one part of the fixed investment and overhead charges 

 with which the farmer has to reckon. The other part is represented by the cost 

 of buildings both for residence and for the needs of the farm. For the State as a 

 whole, the average value of a farm on the basis of the 1940 Census was $6,647, 

 of which 41.3 percent represents the value of land and 58,7 percent the value of 

 buildings. In each county the value of buildings is higher than the value of land. 

 In Norfolk County exactly two-thirds of the total value of farm real estate is 

 represented by buildings. From the standpoint of profitability of farming opera- 

 tions, in some sections of Massachusetts and especially in the eastern counties, 

 the large investment in buildings in addition to the high cost of land creates a 

 real problem. It is true that the types of farming prevailing in Massachusetts as 



