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:
“Crushed to earth and rising again is an author’s gymnastic. Once he fails to struggle to his feet and grab his pen, he will contemplate a fact he should never permit himself to face: that in all probability books have been written, are being written, will be written, better than anything he has done, is doing, or will do.”
—Fannie Hurst (1889–1968)
“We were uncertain whether the water floated the land, or the land held the water in its bosom. It was such a season, in short, as that in which one of our Concord poets sailed on its stream, and sung its quiet glories.”
—Henry David Thoreau (1817–1862)
“Nothing is so threatening to conventional values as a man who does not want to work or does not want to work at a challenging job, and most people are disturbed if a man in a well- paying job indicates ambivalence or dislike toward it.”
—Alice S. Rossi (b. 1922)