Unwillingness to sell isn’t greed. The landowners aren’t part of the dealflow. There’s no quid pro quo. It’s an arms length transaction.
The reason people hold on to land is that it’s less bother than finding an alternative repository of wealth. Stocks go to $0. Land doesn’t.
And there’s emotional attachment that isn’t there for stocks and bonds. Some people are happy to cash out and see the place the kids were raised paved.
Some aren’t and it would hardly be a surprise if such folks don’t cotton much the sort of change to the land that’s on the table.
Like I said long term.
Go back in time and take that lady a pie after church fifteen years before the developers come town…’out of town developers’ that’s the phrase you’re up against.
