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:
“A tree is made to live in peace in the color of day and in friendship with the sun, the wind and the rain. Its roots plunge in the fat fermentation of the soil, sucking in its elemental humors, its fortifying juices. Trees always seem lost in a great tranquil dream. The dark rising sap makes them groan in the warm afternoons. A tree is a living being that knows the course of the clouds and presses the storms because it is full of birds’ nests.”
—Jacques Roumain (1907–1945)
“In 1862 the congregation of the church forwarded the church bell to General Beauregard to be melted into cannon, “hoping that its gentle tones, that have so often called us to the House of God, may be transmuted into war’s resounding rhyme to repel the ruthless invader from the beautiful land God, in his goodness, has given us.””
—Federal Writers’ Project Of The Wor, U.S. public relief program (1935-1943)
“The traveller who has gone to Italy to study the tactile values of Giotto, or the corruption of the Papacy, may return remembering nothing but the blue sky and the men and women who live under it.”
—E.M. (Edward Morgan)