Contents: The situation in general -- Farm real estate values (Values declined further, reflecting lower incomes - Values more nearly in line with rents than in earlier years - Supply of farms large, several types of potential buyers - Income from farm production was the lowest in more than 20 years - Problems were intensified in all areas - Regional trends influenced by diversity of factors - Size of farm and value per acre affect value trends) -- Changes in farm ownership (Forced transactions increased markedly - Regional investigations provide foreclosure data for earlier years - Tax sales increased, relief legislation enacted in several States - Frequency of voluntary sales increased slightly - Farmer bankruptcies were more numerous - Larger share of voluntary sales to nonfarmers and nonlocal residents) -- Farm-mortgage credit conditions -- Farm real estate taxes -- Literature cited.