> Land value depends mostly on public infrastructure paid with public funds - roads, subways, schools etc
This is a strange conceit. Martha's Vineyard and Maui do not have orders of magnitude better "public infrastructure" than Kansas.
If anything, recent US real estate growth is a function of people leaving high-tax areas for inferior asphalt.
It ignores that zoning is contentious precisely when "public goods" are perceived to harm land value.
There's a circular reasoning in "land monopoly." Cover a grocery store in solar panels: who is "contributing to the general welfare," and who collects free rent?
This is a strange conceit. Martha's Vineyard and Maui do not have orders of magnitude better "public infrastructure" than Kansas.
If anything, recent US real estate growth is a function of people leaving high-tax areas for inferior asphalt.
It ignores that zoning is contentious precisely when "public goods" are perceived to harm land value.
There's a circular reasoning in "land monopoly." Cover a grocery store in solar panels: who is "contributing to the general welfare," and who collects free rent?