“There’s just too much room for expansion to create the sense of scarcity needed to make one piece of scrub more valuable than another.”
Bugs, he says that 87% of AZ and NV land is government owned, and of the 13% that is private, most is used for agriculture, leaving little land for developers.
I checked further into this, and the refinery is 40 miles outside of Yuma. How expensive can land ever get 40 miles outside a small desert town with high unemployment? The guy kept saying, “It’s outside of Yuma”. He didn’t say it was a 45 minute drive! So the parcels are 36 and 48 miles outside of Yuma, too far to be impacted by any growth originating in Yuma. Who would be a potential buyer in 5 years, assuming the refinery goes in?
