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".
Etymology
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
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. 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
One of the earliest swampland scams in Florida was Poinciana, a development in the Everglades that sold nearly 9,000 lots in 1925 and 1926 despite almost all of the property being mangroves and a "Shangri-La for crustaceans and mosquitoes". Advertisements for the development made many false claims about the property. The project was shut down after the development headquarters were destroyed in a hurricane.[6]
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
Swampland scams still occur in Florida.[9] 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.[10][11][12]
Swampland in Arizona
A similar phrase, which replaces the word Florida with
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 with no access to water, no sewer service, and in many cases, are not accessible by road.[14]
See also
- Economic bubble
- Academy Award-nominated film of the same name.
References
- ^ "In Ponzi We Trust". Smithsonian. Retrieved 22 July 2019.
- New York Times. Retrieved 2010-01-11.
- ^ a b "...swampland in Florida to sell you". phrases.org.uk. February 20, 2005. Retrieved 2008-02-02.
- ^ Grant Oster, "Unseen Property Cons and Land Scams in History", Hankering for History, January 2, 2014. (accessed 26 Sept. 2016).
- ^ Ostrowski, Jeff (1999-04-02). "Anyone got some swampland for sale?". South Florida Business Journal. Retrieved 2008-09-16.
- ISBN 978-0-8203-2672-6.
- ^ "Gulf American Land Corp. Admits Guilt, Is Suspended". Sarasota Herald-Tribune. November 11, 1967.
- ^ "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.
- ^ Mark Pino, "Psst . . . Wanna Buy Some Swampland?" Orlando Sentinel, September 1, 2006 (Accessed 26 Sept. 2016_
- ^ "Brooklyn bridge buyers, beware". USA Today. September 1, 2006. Archived from the original on 2008-02-01. Retrieved 2008-02-02.
- ^ "Swampland sales back in style". Daytona Beach News-Journal. January 9, 2005. Archived from the original on 2009-04-12. Retrieved 2008-02-04.
- ^ Meinhardt, Jane (May 8, 2006). "Daisy chain of profits: Last one in loses". Tampa Bay Business Journal. Retrieved 2008-02-04.
- ^ Pintail Wetlands Nature Trail — USDA Forest Service Retrieved November 26, 2022
- ^ Haya El Nasser,"Old-fashioned land scams go high-tech", 9/26/2006, USA TODAY (accessed 26 Sept. 2016).
External links
- Florida Law Chapter 498: Land Sales Practices
- "Beyond Disney World: Florida's swamp land is something to be truly admired and explored" at Poste Restante online travel magazine (via Internet Archive)
- Florida Land Scams (archive) – land scams in Polk County, Florida