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2) You can't make more of it. Land that exists was created millions of years ago by powerful, continental scale geological processes. We can't create a new cont
by kiba 5y ago
2) You can't make more of it. Land that exists was created millions of years ago by powerful, continental scale geological processes. We can't create a new continent.
Supposed we could. It doesn't seem it would lower the value of New York City, at least at first.
- jeffbee 5y agoOf course not. Land is not only not like other commodities, it is not a commodity at all. It meets none of the aspects of the definition of commodity. Each piece of land is a completely unique and highly differentiated thing, unlike each piece of gravel or each piece of corn, which are all interchangeable.
- manwe150 5y agoThe country of the Netherlands also might like to disagree with this
- dehrmann 5y agoAnd for some uses, building up effectively makes more land.
- Nbox9 5y agoHow much land devoted to agriculture/mining/manufacturing/power/landfill is required outside of the city to support New York City? Sure, it wouldn’t move the needle on condo rent but land scarcity effects everyone.