What Is the Meaning of Land Speculators?

History

• Land speculation had an important role in the history of the United States. Residents who came to the country during colonial times used to buy land from the Indians and sell it back to other settlers. George Washington and Andrew Jackson were known speculators.
  
  

Controversy

• The process, however, is controversial. One newspaper editor argues speculators price land based on how much it will be worth, not what it is actually worth at the moment. This can raise the price of land too high for those looking to use the land.
  
  

Defending Land Speculation

• Other editors defend land speculation. It's argued that speculators are no different than any other entrepreneur, like a shoe store owner, who is attempting to buy low and sell high. And land speculators often act as middlemen between sellers and builders and, thus, are responsible for preparing the land for use. Many cities began as a land speculation, including Houston, Texas.