They could easily live of the interest that the money accumulated and they wouldn't have to be out doing back breaking labor every day. There would be no worries about foreclosure, as currently most ranchers are deeply in debt, and so as you can see the idea of selling out to developers is deeply attractive. One of the reasons that the ranchers are having so much trouble is that they don't receive benefits for all of the services that they provide. The reason that Ranchettes are worth so much to those from the city is that they want the open views and unspoiled land that ranches provide. It is therefore worth something to everyone who is able to experience that openness to keep it open.
Open land is a pure public good that is being provided privately.
Most individuals would not put a value on open space because they know that they will be able to experience it even without paying for it. Ranchettes are a phenomenon that has only began to develop in recent years. With the advent of the telephone and fax machine it becomes possible for people to work away from their office. People come to the country to enjoy the views and clean living opportunities that cannot be had in the cities. The interesting thing about them is that their existence is paradoxical in a way.