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Land values increase, though it is still possible to make a specific plot of land available to more people by building tall buildings on them and installing ele
by sir0010010 2y ago
Land values increase, though it is still possible to make a specific plot of land available to more people by building tall buildings on them and installing elevators. The total rent of a small plot can then potentially be divided amongst hundreds or thousands of people.
- llamaimperative 2y agoCorrect, which increases the land value even further. Trivially: If you imagine a plot of land next to One World Trade Center in Lower Manhattan that for some soil/geological region can't sustain a building taller than 2 stories, that lot will be worth far, far less than the lot upon which One World Trade Center was built. Another example: If you imagine that elevators were outlawed for some reason, suddenly the value of all high-density developable land would fall.