Hopefully I can adequately convey my thoughts. 

Does it seem we are throwing future earnings ( notice I didn’t say profit) into land?

Argument that land rarely has stood on its own. But just the luck of timing, late 90’s, early 2000’s land purchase did stand on their own, for me. Bit of side note, my son and I discuss land prices and how things are out of whack. I tell him about my early purchases, when amortized over 20 years, were not significantly more per acre annually, than going rent rate. He can not phantom that….it hasn’t ever been that way that he can remember. 

Back to the future earnings thing. The example that pops into my head is MLB baseball contracts. Dodgers and Yankees….seems they are throwing potential future earning, at player’s salaries….right now. The contract of  Shoehei Ohtani is very deferred, laden. If that was paid right now…..I don’t see how they cash flow that with all the other high priced talent on the books. Hopefully some, here, are familiar with the Bobby Bonilla contract with the Mets….perfect example. 

That is what it looks like to me. Another way of putting it is…” there’s no way I’m getting this paid off in 20 years and I’m ok with that, we are looking at multiple generations assuming responsibility for original contract, possibly 50 years? 50+ ? “

Not that I’m ok with that, for me but it does seems to happen.