From a Wall Street Journal article by Katherine Clark:
“If you look back in the day to the ’70s and ’80s, there were these guys…raised with this mythology of the West,” said Ken Mirr, a local ranch broker. “It was attachment to something Hollywood produced. Their children aren’t necessarily always as interested in operating the properties. Sometimes the kids just see cows and think ‘What should I do with this?’”
Operating costs vary dramatically, depending on how much infrastructure ranchers have on their land and the level of agricultural activity but can often be millions a year.
Decades ago, a generation of America’s wealthiest, raised on television shows like “Howdy Doody” and “The Lone Ranger,” headed west with dreams of owning some of the country’s most prestigious ranches. Now, as those John Wayne- loving baby boomers age out of the lifestyle or die, they or their children are looking to sell those trophy properties.
To read more click on following link: https://www.wsj.com/articles/baby-boomers-are-leaving-behind-a-trail-of-luxury-ranches-11566487531?mod=hp_listc_pos3