The Fallacy of Buy Land — They’re Not Making Any MoreGuest Post
The Fallacy of "Buy Land — They’re Not Making Any More"
“Buy land — they’re not making any more!” is an old investing chestnut, and a common sense one to boot. Economically, it’s also completely false.
As counterintuitive as it may seem, we make land all the time. It just doesn’t look like land.
Why? Because land’s value doesn’t come from its ability to cover up the naked earth. Land’s value comes from its economic usefulness. From the value of things that can be done using that land . . .
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