When Walt Disney built Disneyland in Anaheim, California; he failed to realize the impact on the neighboring properties. When Walt Disney World in Orlando, Florida, was conceived, Disney did not want a repeat of Anaheim. Disney secretly began purchasing property in the Orlando area. Disney formed hundreds of fake companies to conduct the land deals so no one would realize who was purchasing the properties. Discuss the positive and negative externalities of the Disney theme parks and the neighboring land holders. From this perspective, what were the mistakes made in Anaheim? Why did Disney secretly purchase the properties in Florida?
The issue that concerned Walt Disney was land speculation. It isn't clear exactly why this upset him, but clearly property prices rose dramatically with the news that a theme park was being built. Land speculators may have tricked families into selling their homes for a small profit, and then sold them to developers for a very large profit. He should have expected that hotels and restaurants would take the place of quiet residential neighborhoods ...
Walt Disney's land speculation in California and how it differed from his Florida land purchases.