There are many reasons investors or non-farmers are considering land -
The biggest is security of the item. Land is real, stocks, bonds and banking are paper type transactions and who knows if there will be any "worth" there in the end.
I do know of a few "investors" that are buying land - because it is real and stable, as compared to their 401 or IRA's stocks.
Right or wrong, they believe what they believe. The return on the investment isn't as much of a consideration, as its stablility. As long as it pays the property taxes and maybe a tad more, they are satisfied.