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Land definitely has value when unused. Land is the right to be in a certain geographic location, and exclude others from it. Why would that right not be valuabl
by neilparikh 6y ago
Land definitely has value when unused. Land is the right to be in a certain geographic location, and exclude others from it. Why would that right not be valuable just because you're not using it? As the other commenter points out, that would imply that empty lots in cities are worthless, and we wouldn't see teardowns selling for millions.
- TheRealPomax 6y agoNo it is not. Land is just land, and different countries put different policies on top. Just because some land "is yours" doesn't universally mean you get to exclude others from it - as much as you think that's obvious and natural because that's how it is where you live/grew up, the idea that your land is off limits to others is entirely artificial. It's a choice your local government made with regards to land rights. Other places take a very different stance, where land is just land, and you don't get to exclude people from it just because you own it. If you put the land to use, then that part becomes off limit, but merely "being the owner" doesn't confer the right to cordon it off, and people are allowed to freely traverse it. You only acquired the right to generate income from that land. (e.g. folks can't go prancing about your crop fields, but if you own 100 acres and 80 of those are left alone because you live in a country where you value conservation, folks are entirely free to wander those 80 acres)