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Pittsburg, Kansas | In my opinion, appreciation of the land is mostly a reflection of the debasement of the money supply. There are exceptions of course, like development where the land actually becomes worth more because of its new use.
But mostly land appreciation over time just reflects inflation. Of course there are shorter periods of time prices will be above or below trend. It seems like now it is on the rich side. But when or why it reverts to the mean is anybody's guess. Or what the real inflation rate is also fuzzy. So maybe the current high price of land is only just reflecting inflation.
I sure don't know.
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Exponential growth and farming
