Mormonicious wrote:
Yeah, HOWEVER, the land developer is not necessarily the building developer. While the Mormon Corporation owns the land, its real value is in the structures.
i have no idea what the farming margins are in florida. but as a general rule in cali, and in normal non-drought years, margins are kinda like this:
pasture/beef - 2-3% annual return
row crops - 3-5%
permanent crops (almonds, walnuts, etc) 5-6%
and that is in the central valley, the best soil and market for farming in the world.
i am sure the church is looking at those pasture/beef margins out of florida and while they will be much higher because of deseret ranch's scale and the free labor that is available to the church - commercial real estate is looking very attractive in comparison.