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:
“Americans are notorious for looking to their children for approval. How our children turn out and what they think of us has become the “final judgment” on our lives. . . . We imagine that the rising generation is rendering history’s verdict on us. We may resent children simply because we expect a harsh judgment from them.”
—C. John Sommerville (20th century)
““The glacier knocks in the cupboard,
The desert sighs in the bed,
And the crack in the tea-cup opens
A lane to the land of the dead.”
—W.H. (Wystan Hugh)
“When the shingles hissed
in the rain incendiary,
other values were revealed to us,”
—Hilda Doolittle (1886–1961)