The Estates is a suburb outside of Los Angeles. Local zoning ordinances require that lots be “at least 1 acre in size.” Al owns a 1-acre lot in The Estates which has never been developed. He needs cash and wants to sell the property. Al finds a potential buyer who offers him 100,000 for the acre. But he also finds a pair of interested buyers who each offer him 75,000 for half of his acre. Al is furious that he cannot divide his acre and sell it to two buyers. “I need that extra 50,000,” he rants. “It’s my land, and I should be able to do what I want with it!” Do you sympathize with Al, or do you think the zoning restriction is reasonable?
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