Real Estate Developers
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1. Political issues affecting the activities or proposed activities of real estate developers are frequently of a character that engenders strong emotions of both sides of questions dealing with environmental protection, growth management, resource use, and other relevant factors. Some economists term the positions of many participants in the debates over such issues as being derived from a position of rational ignorance. The use of this term indicates that the mainstream economists of the day consider such positions to be rational on the basis of the limited information either available to or employed by the participants in reaching their positions, but nevertheless positions that would not be established if the participants either possessed or used all of the economic information relevant to the situation. Such economists, however, have never been known to oppose any proposed action that promises economic growth regardless of any other consequences that may derive from a situation. Nobel prize winning economist John Kenneth Galbraith once said that advocates of near unlimited development along with the rest of us will one day be consumed by the fumes of automobile emissions as we sit in stalled, bumper to bumper traffic on an urban freeway. While actions based on rational ignorance might save us from such a fate, real estate developers, in pursuit of the flawed highest and best use doctrine, must find ways to make the correctness of their views known, to assure that o
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ed on several premises. First, individuals possessing high levels of personal resources education, skills, and so forth and so on are in the best position to migrate out of California because it is just such persons who will experience the fewest difficulties in reestablishing themselves in a new area. Second, individuals possessing physical resources, such as real estate, in most instance will find that they can sell such property in California (even at depressed prices) for substantially more than replacement property will cost in the area to which they are migrating. Third, persons with substantial financial resources are the ones most likely to be concerned with the erosion of the value of those assets stemming from the rising cost of existence in California. All of these factors add up to a further conclusion that the contemporary out migration is costing California dearly in terms of the overall value of the state's human resources. Persons migrating into California in the contemporary economic environment are likely attracted by the level and comprehensiveness of the state's welfare benefits, while the persons migrating out of California, for the most part, are the people best able to promote and support future econo
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Some common words found in the essay are:
Kenneth Galbraith, Federal Reserve, , real estate, real estate developers, estate developers, federal reserve, estate market, real estate market, spot prices, economic growth, persons migrating california, growth management, rural dwellers, rational ignorance, current account, estate construction sales, decision build income,
Approximate Word count = 1623
Approximate Pages = 6 (250 words per page)
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