Why is land pricing skyrocketing so dramatically lately? It seems like every plot of land, whether rural or urban, comes with an eye-watering price tag. What’s driving this surge in land costs, and is there any end in sight?
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Land does not depreciate since it is finite, immovable, and has an infinite usable life span. Unlike buildings, which depreciate over time, land remains valuable due to its scarcity and consistent supply in every place. Land’s unique nature prevents it from being reproduced or relocated, preserving its long-term value.
Land has been expensive for a few years now. It will continue to be so. I’d either look further out (no Walmart) or get less.