Ya I agree Torr this high priced land don’t pencil out but good for the guys taking a shot and buyingLast year when some land became available nearby, we did some spreadsheeting to determine what kind of offer we could practically make (land went for over twice that). Then for fun he took the estimated yearly payment on that loan and calculated what it would look like if we paid that money into an investment account each year at a fairly conservative rate of return. Unsurprisingly, the numbers were strongly in favor of investing the money, rather than buying the land. This is assuming that our goal was to buy the land and keep it indefinitely, rather than buy it to sell it.
So there is some good wisdom in investing as others have mentioned above. Investments aren't just for individuals; corporations like farms can own them as well.