On the other end of the scale is the Irvine Company approach used in Orange County in California. Much of the land under the cities and communities is the former Irvine ranch and is held privately. The owners of houses don't own the land their house sits on. With new developments, there is a long term renewable lease on the land, so the banks that lend to purchasers of houses know the terms and don't have to worry about arbitrary and capricious government changing the game after the money has been lent.So you have a private company managing the planning of communities for profit and sustainability. This is exactly what sovereign governments could do, but fail to do, because they are jerked around by democracy and corruption.I'm not saying this is a great model that should be used everywhere. The Irvine Company is just another stakeholder in many respects. But Orange County residents are generally not among the poorest in California.1HF
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Rat