This land is MY land, this land is MY land — wait, that’s not how the song goes.
At some level, land is probably one of the most scarce of the Scare Resources we have. We have all the land we’re going to have — unless we have a massive volcano erupt or we start building on water as in Water World movie. And it’s not likely we’re going to discover any more land, unlike other scarce resources such as rare earth materials.
Nope, the land we have is the land we have, and as this article states, land is what new home builders need, but owners aren’t giving up.
The pace of U.S. home construction hasn’t picked up much from a year ago. One reason, says Capital Economics property economist Matthew Pointon, is a shortage of land—not that enough land isn’t available, but rather that builders are having a tough time finding prime land at prices they’re willing to pay.
