Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Maurice Winn who wrote (62729)	4/25/2005 5:48:26 AM
From: Elroy Jetson	Read Replies (2) of 74559

The simple truth is that land use restrictions lower the price of a parcel of land. The right to build a home on a parcel of land makes it more valuable than farming. The right to build a high-rise makes the land more valuable still. This is called "highest and best use". But the highest and best use is a high-rise -- only if there is enough income in the area to support the rents or puchase. The opposite is also true. If you wish to build a high-rise but we tax this right away from you, by prohibiting anything other than farming, the value of your land falls. The restriction on your land use does not make it rise in value. If you don't believe this, talk to a local property valuer. These half-brained attempts to claim that land use restrictions make land more valuable is absolute rubbish. Any competent economist would snort and laugh. Does Maurice Winn actually believe he has found a way to create prosperity through a form of taxation? How did you ever manage to become so confused? .

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