I think a real issue is the cost of infrastructure and network effects. Essentially, a big corporation could buy cheap rural land close to a big city, develop

I think a real issue is the cost of infrastructure and network effects. Essentially, a big corporation could buy cheap rural land close to a big city, develop a small city there and reap the "overpricing" benefits. But it's very expensive to build the basic infra. And even more expensive to convince enough people to move there and create minimum network effects for it to become a "real" community and livable space.