The St. Joe Company is having trouble getting

The St. Joe Company is having trouble getting buyers of lots in two Florida Panhandle developments, WaterSound Beach and WaterColor, to build houses within three years of their purchase, according to The New York Times. Many lots have been sold at high prices and in some instances resold at even higher prices, all the while remaining vacant — perturbing neighbors who broke ground within three years, as required by St. Joe. A Dec. 17 Times article said St. Joe has given lot owners an extra two years to begin construction. The Times said some observers think St. Joe made land speculation too easy by not limiting purchases to one lot per buyer. Several lots in WaterSound have reportedly sold for more than $2 million apiece.