Re: Estimated land value of the US
- From: "Mark M." <markm@xxxxxxxxx>
- Date: Mon, 03 Jul 2006 13:59:29 GMT
Peter Bjørn Perlsø wrote:
Anyone know of an estimate of the total land value of the United States?
Good question. Land sales price estimating is like estimating the value of collectable coins. The value of an individual coin depends not simply on actual supply of like coins but supply of like coins actually offered for sale right now. Should all these coins suddenly be offered for sale at the same time, their value would dramatically drop.
In a similar way, individual land plots are valued assuming the rest of the land market is unchanged. Should for example land be taxed more heavily, this will greatly change the market which will greatly change the value of individual plots.
In other words, we can't simply add up the theoretical selling value of all the individual plots and derive a useful figure that shows flow of wealth to land or taxing potential.
MM
.
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