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Boone Co. Iowa | Land WAS valued for its ability to return an investment. Price of corn mostly dictated the value of land.
As the U.S. creates more wealth and wealth inequality, the value of land and housing (which really had the value of an individual owner) is more about wealthy owning the thing, not about the return in investment. Land and homes are a great place to park money made, either via investments or a company.
Wealthy investors are finding hard assets to park their money. This pressures prices upwards.
I agree with poster who said cost of labor is making houses more expensive.
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Land and Home Prices Ahead?
