07-29-2023, 06:13 PM
(07-29-2023, 11:39 AM)tomh009 Wrote:(07-29-2023, 09:40 AM)panamaniac Wrote: In other words, speculators.
No, I would not call that speculation. In this case, the company knows they can increase the value of the land by improving the zoning, so arguably they are adding some value.
A speculator, on the other hand, will buy undervalued property in the hopes that it can later be resold (as is) for much more.
Right, it’s not speculation as such.
It’s a disconnect between the two totally separate skills of navigating zoning and actually building stuff.
This occurs in government procurement as well, I understand (maybe more in the US than here?) where there are companies that are expert in being picked for a government contract, and then they contract out to the companies that actually know how to do the work. If the procurement process were re-designed to be useable by the actual working companies, all the profit from the middlemen could be redistributed between the government and the actual productive companies.
I have also heard that sometimes “expert in being picked for a government contract” sometimes includes being owned, or rather, being recorded as being owned, by a woman or minority.