You ommitted one small detail and that would be the 16 year run of the do nothing PLD has come to end.
It does not take "big money" to make money or changes.
It does not even take money.
How can someone consider themselves educated and leave out the most basic part about market conditions?
(insert the Economics 101 emoji here).
For the most part since AI's are the spot...visitor travel and therefore investment away from the AI spots is less. Much less.
That explains the reason why prices (of real estate) are the way they are...market conditions.
And you don't need to be educated to figure that out.
Sosua Beach and many other areas in this country are being developed for the big pictures changes coming to this country.
I have seen path of progress real estate investment moves pay off from 30% to 300% during my time here.
The university professor was my advisor told me that "you might not always be able to do anything about the changes are coming...but you should always recognize and be aware of they are going to affect you".
In my opinion, "why" and "why so long" are questions that are irrelevant.
What is happening on the ground right now...that is relevant.