Rising Land Values
A rise in land values was the true bubble of the so-called housing bubble. Even after the crash in home prices, land values are high near the Atlantic and Pacific coasts, and low elsewhere in the U.S. High land values result in high cost of living, causing cities and states in expensive areas to have high taxes. The high cost areas are at a competitive disadvantage to the rest of the country, and was a factor in the population shift to the South in the last several decades.
The economic effects of land prices was most notably discussed by Henry George. This economic school of thought is known as Georgism.
Read more about this topic: Economic Issues In The United States
Famous quotes containing the words rising, land and/or values:
“Old age is far more than white hair, wrinkles, the feeling that it is too late and the game finished, that the stage belongs to the rising generations. The true evil is not the weakening of the body, but the indifference of the soul.”
—André Maurois (1885–1967)
“For four hundred years the blacks of Haiti had yearned for peace. for three hundred years the island was spoken of as a paradise of riches and pleasures, but that was in reference to the whites to whom the spirit of the land gave welcome. Haiti has meant split blood and tears for blacks.”
—Zora Neale Hurston (1891–1960)
“I describe family values as responsibility towards others, increase of tolerance, compromise, support, flexibility. And essentially the things I call the silent song of life—the continuous process of mutual accommodation without which life is impossible.”
—Salvador Minuchin (20th century)