> I think everyone is aware of how housing prices are kept artificially high by agressive zoning restrictions. Taxing property as apposed to just land misalign

> I think everyone is aware of how housing prices are kept artificially high by agressive zoning restrictions. Taxing property as apposed to just land misaligns the economics enough so that land becomes a financially useful hedge asset, like gold. So the rich, and large funds, all create demand for land beyond its practical use. This also keeps land prices artificially high.