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> Vacant land that's desirable is often held back from development due to zoning or infrastructure issues. Nah, it's mostly speculation. Zoning/infrastructure
by estearum 8mo ago
> Vacant land that's desirable is often held back from development due to zoning or infrastructure issues.
Nah, it's mostly speculation. Zoning/infrastructure issues get baked into the price. If you cannot build anything on a plot of land, its price falls.
- philipallstar 8mo agoOnly at point of buying. If you buy some land and the mayor suddenly implements rent control then the value goes down.
- bpt3 8mo agoUntil someone gets the zoning board to wave a magic wand and change the allowable uses of the property, and then it's a lot more valuable. This happens all the time, and is a major reason why people will sit on land for extended periods of time.