An alternative look at land, project, and builder valuation
This past fall I had the opportunity, if not exactly the pleasure, of hanging out at a finance and development conference in Las Vegas as a member of a panel discussion about how to value land, projects, and builders. There were about 250 expensive suits, more neckties than I have seen in 20 years, and much talk about “basis points.” These were heavy hitters, well-pedigreed and controlling a large portion of the land and project development in the United States. I joke that I got an MBA to know what the enemy is thinking. There is at least a grain of truth in that. These folks are not the enemy, but they do talk and think differently than builders.