Again, it depends on demand vs supply. Land in the middle of nowhere in Alaska is abundant with little demand, so land there isn't considered scarce. In Manhatt

Again, it depends on demand vs supply. Land in the middle of nowhere in Alaska is abundant with little demand, so land there isn't considered scarce. In Manhattan, New York, demand causes increased living space to be created by building upwards. In San Francisco, city restrictions on building heights limit supply (can't stack as high vertically as you can in Manhatten.)