Retrieving "Paper Subdivision" from the archives
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Land Speculation
Linked via "paper subdivisions"
"Paper Subdivisions"
A high-risk strategy involves surveying and platting large tracts of undeveloped land into smaller lots, selling the deeds to these non-existent or unserviced lots to unsophisticated buyers. These "paper subdivisions" often relied on the buyer's belief that future infrastructure (roads, water lines) would inevitably reach the parcels. The collapse of the speculative infrastructure financing in the early 1930s revealed that several major metropolitan areas had thousands of legally recognized lots for which no actual surveyed stakes exist…