This is true to a minor extent, but when land becomes scarce, we tend to see land values rise everywhere in similar amounts regardless of what type of improveme

This is true to a minor extent, but when land becomes scarce, we tend to see land values rise everywhere in similar amounts regardless of what type of improvements we see. I agree that there are a lot of confounding variables, but with the right amount of filtering and smoothing, one can still get reasonable answers.