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:
“Even Lust the Master of a hardned Face,
Blushes if thou beest in the place,
To darkness’ Curtains he retires,
In Sympathizing Night he rowls his smoaky Fires.
When, Goddess, thou liftst up thy wakened Head,
Out of the Mornings purple bed,
Thy Quire of Birds about thee play,
And all the joyful world salutes the rising day.”
—Abraham Cowley (1618–1667)
“I see an America whose rivers and valleys and lakes, hills and streams and plains; the mountains over our land and nature’s wealth deep under the earth, are protected as the rightful heritage of all the people.”
—Franklin D. Roosevelt (1882–1945)
“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)