Ann Arbor area farmers may be more reluctant to sell development rights as prices sag
Hard times for new home building may or may not turn into good times for Ann Arbor’s Greenbelt. Except:The depressed real estate market presents new challenges for Ann Arbor’s greenbelt program.The first is that farm owners who might otherwise be prepared to sell may, instead, hold their land.For many farmers, the value of their land represents a retirement nest egg, said Peg Kohring of the nonprofit Conservation Fund, which staffs the city’s greenbelt program. With the appreciation of the past decade wiped away, those who can will likely delay selling, she said. Read the rest of the story here and how the down economy could help the Greenbelt here.
Hard times for new home building may or may not turn into good times for Ann Arbor’s Greenbelt.
Except:
The depressed real estate market presents new challenges for Ann Arbor’s greenbelt program.
The first is that farm owners who might otherwise be prepared to sell may, instead, hold their land.
For many farmers, the value of their land represents a retirement nest egg, said Peg Kohring of the nonprofit Conservation Fund, which staffs the city’s greenbelt program. With the appreciation of the past decade wiped away, those who can will likely delay selling, she said.
Read the rest of the story here and how the down economy could help the Greenbelt here.
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