The location is an asset. But it's one whose value is largely dependent on the value of other nearby locations, and its connectedness to them. As that is some

The location is an asset. But it's one whose value is largely dependent on the value of other nearby locations, and its connectedness to them. As that is something the owner cannot do much to influence individually, that's more a speculation than an investment. I don't think the US will even be able to start on a tear-down-and-rebuild attitude until there is already a sufficiency of housing. As it is now, it appears to be in a cycle of new development, then decline, then revitalization, where redevelopment only occurs when property values in a place have already collapsed, and ruined those who weren't able to move before the wave hit.