> Land has a perfectly inelastic supply, and thus expectations of more income will lead to increases in rent. Sort of. But land is not a uniform commodity. D

> Land has a perfectly inelastic supply, and thus expectations of more income will lead to increases in rent. Sort of. But land is not a uniform commodity. Different parcels of land are subject different levels of demand. For a place like New York City, the demand for real estate is fairly inelastic. But a basic income would decrease the incentive for people to live near where the jobs are. This would likely cause real estate prices to crash in more expensive places like San Francisco and New York. Many of those prices are inflated due to speculation anyway.