Swampland in Florida

Swampland in Florida is a figure of speech referring to real estate scams in which a seller misrepresents unusable swampland as developable property. These types of unseen property scams became widely known in the United States in the 20th century, and the phrase is often used metaphorically for any scam that misrepresents what is being sold. Expressions like "If you believe that, then I have swampland in Florida to sell you", suggests the recipient is gullible enough to fall for an obvious fraud. Similar phrases involve "selling" the Brooklyn Bridge or nonexistent "oceanfront property in Arizona".

A freshwater swamp in Florida

Origin of the term

The phrase originates from the common land banking scams of the 1920s, when booming "land mania" preceded the Great Depression. One of the original sellers of swampland was Charles Ponzi.[1]

Similar terms came from the early 20th century where con-men would sell landmarks to which no one owns the title such as the Brooklyn Bridge to newly arrived immigrants in the United States. The phrase about gullibility referring to those events said, "if you believe that, I've got a bridge to sell you."[2] Those evolved in the 1960s and 1970s to include fraudulent sales of near-worthless swampland real estate in Florida.[3]

Though the term originates in the United States, it is now also understood and used in other English-speaking countries.[3]

Grant Oster points out that the practice of the unseen property scam predates the existence of the United States. He points to Erik the Red's sale of colonization of Greenland, circa 982, as an example.[4]

Actual value of swampland

The common usage of this term implies that swampland is worthless. Without development or some ability to develop it, it is not valuable for real estate purposes. There have been cases that swampland was purchased and turned into very valuable property, notably for the creation of Walt Disney World and also to some extent including many developed lands in Florida. On the other hand, there are also arguments made for the value of scenery and wildlife found in swamplands in their natural condition. Sometimes that is done by businesses to meet a development permit requirement to preserve some Florida land in order to build on other Florida land.[5]

Unseen property sale scams

Florida swampland scams

In the 1960s and 1970s, scammers used nationwide advertising to lure victims to buy Florida real estate without visiting the properties first. This technique was used notably by the Gulf American Land Corp. in the communities of Cape Coral and Golden Gate Estates, Florida (for which they were found guilty of fraud by the Florida Land Sales Board[6]). It was a form of confidence trick. The new owners came to find their land was under water in a swamp or in some other way impossible to build upon. As the scam became widely known, California and New York legislators acted in 1963 to restrict this false advertising. Florida also enacted the Installment Land Sales Act that year in an effort to restore its reputation.[7]

Swampland scams still occur in Florida.[8] The Internet has brought about a resurgence via online auctions of Florida real estate. Scammers circumvent commercial registration requirements by making one-on-one sales. Over great distances some buyers can be convinced to pay before verifying claims. It usually involves unbuildable swampland misrepresented as buildable to fraudulently inflate the sale price.[9][10][11]

Swampland in Arizona

A similar phrase, which replaces the Florida with Arizona, is also used for the same reasons. As Arizona is well known to have an arid climate, it is assumed that wetlands in that state are non-existent. The implication is that the target of the insult is not only more gullible than someone who would buy swampland in Florida, but also ignorant. Another variation of the phrase is "ocean front property in Arizona", of which none exists because Arizona is a landlocked state. Country songwriter George Strait wrote a song with this variation as its title.

Desert land scams

Recent land sale scams have been sale of inaccessible desert land in Arizona and west Texas. The lots are sold over the internet, and are desert properties have no access to water, no sewer service, and in many cases, are not accessible by road.[12]

gollark: Sometimes.
gollark: As we're the same person.
gollark: Actually, heavpoot made it and submitted it as me.
gollark: Python has many irritating quirks.
gollark: As I said, I did 54% of them.

See also

References
  1. "In Ponzi We Trust". Smithsonian. Retrieved 22 July 2019.
  2. Cohen, Gabriel (2005-11-27). "For You, Half Price". New York Times. Retrieved 2010-01-11.
  3. "...swampland in Florida to sell you". phrases.org.uk. February 20, 2005. Retrieved 2008-02-02.
  4. Grant Oster, "Unseen Property Cons and Land Scams in History", Hankering for History, January 2, 2014. (accessed 26 Sept. 2016).
  5. Ostrowski, Jeff (1999-04-02). "Anyone got some swampland for sale?". South Florida Business Journal. Retrieved 2008-09-16.
  6. "Gulf American Land Corp. Admits Guilt, Is Suspended". Sarasota Herald-Tribune. November 11, 1967.
  7. "Watch out for swamp land sales on the Net". Charlotte (Florida) Sun. June 18, 2005. Archived from the original on October 20, 2008. Retrieved 2008-02-04.
  8. Mark Pino, "Psst . . . Wanna Buy Some Swampland?" Orlando Sentinel, September 1, 2006 (Accessed 26 Sept. 2016_
  9. "Brooklyn bridge buyers, beware". USA Today. September 1, 2006. Archived from the original on 2008-02-01. Retrieved 2008-02-02.
  10. "Swampland sales back in style". Daytona Beach News-Journal. January 9, 2005. Archived from the original on 2009-04-12. Retrieved 2008-02-04.
  11. Meinhardt, Jane (May 8, 2006). "Daisy chain of profits: Last one in loses". Tampa Bay Business Journal. Retrieved 2008-02-04.
  12. Haya El Nasser,"Old-fashioned land scams go high-tech", 9/26/2006, USA TODAY (accessed 26 Sept. 2016).
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.