Re: "The value of land is mostly improvements"

ruetheday@xxxxxxxxxx wrote: 
The value of land is mostly improvements (you know, such as
buildings)



It depends on where you live.  If you live in rural Montana where land
sells for a couple thousand dollars per acre, the above is likely to be
true.  If you live in Manhattan, the polar opposite is true.


A building on a particular plot contributes nothing to unimproved value of the plot. Nearby improvements seem at first glance to boost land values but this theory fails closer examination. Tear down a chronically vacant building and surrounding land rents typically increase.

Land rents are supported by people in nearby buildings, not the buildings themselves.

MM
.

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