In March of this year land values in the United States averaged 3 times their 1970 level. The increases in this decade sarpassed even those following World Wars I and II. It is not surprising that this Association should once again inquire into both the causes of land value changes and the implications of these changes for the future of Agriculture. Increasing land values are viewed by some with elation and by others with concern. To some the old saying that "farmers live poor and die rich" has been verified. Land owners have generally benefited from the sharp growth in their wealth position. But they dislike the higher real estate taxes that follow land appreciation. And they foresee difficulty in expanding their farms or in transferring ownership to younger farmers.