Comment by petesergeant
1 year ago
> Land doesn’t really have inherent value, it comes from what you could do with it
If that's true for land, isn't it true for almost everything? Ultimately you just end up with what other people will consistently pay for it.
> If I try sell a single sqft in my backyard it’s obviously pretty useless and so the value is low. But if I sell the entire plot the value of that backyard will be much higher
This is true of a bag of a single pea from a bag of frozen peas too. I don't think is anything specific to land.
no one can sell 1 sq ft, they can sell the minimum zoned lot size for which the price would be maximum per sq ft price which would decrease as lot size increased.