Post by Poor Richard on Jul 3, 2023 19:32:40 GMT -7
Billionaire cowboys: Western ranch sales are booming as wealthy Americans carve up swathes of prairie for hunting, fishing and skiing - including Yellowstone creator who bought 267,000-acre estate featured in hit show for $350million
The Daily Mail reports "Ranches across the West, once valued for what they could earn their owners through the cattle trade, are rapidly being bought up by wealthy Americans looking for somewhere to park their cash.
Real estate brokers who have been dealing in legacy ranches for decades say unprecedented demand and increasingly limited supply is sending the cost of land to new highs.
Yellowstone creator Taylor Sheridan recently bought a 270,000-acre Texas ranch for around $350million, while former NBC anchor Tom Brokaw acquired a Montana ranch for $18million.
These colossal ranches are not only a safe investment, but also offer their modern owners private playgrounds for fishing, hunting and skiing.
'In the last few years the ranch market has just gone crazy,' said Hunter Harrigan, whose father Dave Harrigan founded Harrigan Land Company around 30 years ago.
'People aren't necessarily buying these ranches anymore for what they can produce in income, but the long-term appreciation,' he told DailyMail.com."
Read the full story here.
Real estate brokers who have been dealing in legacy ranches for decades say unprecedented demand and increasingly limited supply is sending the cost of land to new highs.
Yellowstone creator Taylor Sheridan recently bought a 270,000-acre Texas ranch for around $350million, while former NBC anchor Tom Brokaw acquired a Montana ranch for $18million.
These colossal ranches are not only a safe investment, but also offer their modern owners private playgrounds for fishing, hunting and skiing.
'In the last few years the ranch market has just gone crazy,' said Hunter Harrigan, whose father Dave Harrigan founded Harrigan Land Company around 30 years ago.
'People aren't necessarily buying these ranches anymore for what they can produce in income, but the long-term appreciation,' he told DailyMail.com."
Read the full story here.