“Trophy ranches” may disappear with Baby Boomers

One segment of the luxury property market does not appeal to younger buyers or those who do not understand the appeal of a “trophy ranch”:

Decades ago, a generation of America’s wealthiest, raised on television shows like “Howdy Doody” and “The Lone Ranger,” headed west with dreams of owning some of the country’s most prestigious ranches. Now, as those John Wayne- loving baby boomers age out of the lifestyle or die, they or their children are looking to sell those trophy properties…

Jeff Buerger, a local ranch broker with Hall & Hall in Colorado, said there are more large trophy ranches on the market right now than he can recall in his nearly three decades in the business. There are about 20 ranches priced at over $20 million on the market in the state, according to a Wall Street Journal analysis of listings…

Unlike other sectors of the U.S. high-end real-estate market, ranches can’t fall back on international purchasers. Broker Tim Murphy said there is virtually no demand for ranches from international buyers, many of whom “don’t get it.”…

“The last wave of buyers was the baby boomers who fell in love with John Wayne and wanted that experience for themselves,” Mr. Buerger said. “Today, it’s more about conservation. You’re starting to hear more landowners talking about wildlife habitat enhancement and ecological work.” Other targeted groups include wealthy families from the East Coast or Silicon Valley.

I would guess this is not just about baby boomers: it is about broader conceptions of what is the ideal property if someone came into significant money. The implication in the story above is that media, particularly John Wayne films, created a desire for these locations. Presumably, other media depictions would fuel desires for other properties. Depending on the tastes and background of buyers, this could range from:

1. Pricey downtown condos or penthouses in the middle of urban action (whether in well-established wealthy neighborhoods or in up-and-coming places).

2. Suburban McMansions that offer a lot of space and unique architecture.

3. Traditional mansions with sprawling homes whose size and design imply old money (in contrast to the flashy yet flawed McMansions).

4. Impressive vacation homes right on desirable beaches.

Perhaps the trick of any of these is to try to ensure that there are future buyers for your property. If demand drops, your hot high-status property may not hold up as a desirable location for the long-term.

McMansions being built in the wildland urban interface

Here is an argument that more McMansions are being built in the wildland urban interface and this is leading to problems with forest fires:

But in go-go America, these scientific truisms were no match for McMansion fantasies. As coastal folk headed to the Rocky Mountain frontier with visions of big-but-inexpensive castles far away from the inner city, the term “zoning” became an even more despised epithet than it already had been in cowboy country.

Rangeland and foothill frontiers subsequently became expansive low-density subdivisions, and carbon-belching SUVs chugged onto new roads being built farther and farther away from the urban core. That is, farther and farther into what the federal government calls the Wildland Urban Interface (WUI) and what fire experts call the dangerous “red zone.”

The numbers are stark: According to The Denver Post, between 1990 and 2000, 40 percent of all homes built in the nation were built in the WUI — and “a Colorado State University analysis expects a 300 percent increase in WUI acreage in the next couple decades.”

In the last two decades in fire-scorched Colorado alone, I-News Network reports that “a quarter million people have moved into red zones,” meaning that today “one of every four Colorado homes is in a red zone.”

I had never heard of the wildland urban interface before. To put it in other terms, it sounds like many new homes are being built in exurban areas, the leading edges of metropolitan areas. There are advantages and disadvantages to this: the land is likely quite cheaper and people can have bigger pieces of property and newer homes. But, there are negative consequences such as having to drive further to get places and the environmental impact.

Here is more information on the wildland urban interface in Colorado from Colorado State University. And here is an interesting opinion piece in the Denver Post about how to improve the narratives about WUI fires.

Righthaven loses in Colorado

Last week, Righthaven was flirting with bankruptcy due to legal fees associated with a Nevada case.  This week, the fees keep piling up, this time in Colorado:

Righthaven’s only interest in the Work is “the right to proceeds in association with a Recovery.”  The Copyright Assignment Agreement defines “Recovery” as “any and all sums . . .arising from an Infringement Action.”  Thus, when read together, the Assignment and the Copyright Assignment Agreement reveal that MediaNews Group has assigned to Righthaven the bare right to sue for infringement – no more, no less.  Although the assignment of the  bare right to sue is permissible, it is ineffectual….Accordingly, Righthaven is neither a “legal owner” or a “beneficial owner” for purposes of § 501(b), and it lacks standing to institute an action for copyright infringement….I convert Mr. Wolf’s Rule 12(b)(1) motion to a Rule 56 motion and GRANT him SUMMARY JUDGMENT.  Furthermore, in light of the need to discourage the abuse of the statutory remedies for copyright infringement, I exercise my discretion under Section 505 of the Copyright Act and ORDER that Righthaven shall reimburse Mr. Wolf’s full costs in defending this action, including reasonable attorney fees. [emphasis added]

More coverage from Ars Technica, Techdirt, and the EFF (h/t).