Clients often ask, “Are land prices holding?” My reply is always a quick “Yes, and prices are beginning to creep up in the last year or two.” Then the next question is always “What is causing the increase?” Of course, the answer to that is always availability. Anyone who has looked for a sizeable piece of land lately will tell you it is just not to be found. The quick answer for the next question is “They just don’t make any more land.”, but of course, it is much deeper than that.
Land is being used up at a rapid pace due to many factors. We have probably all heard the term “Under all is the Land”, which loosely translated means for every type of venture land is needed. Nothing can be accomplished without first having the land to do it on. No farming, no housing, no manufacturing, no research, no educational endeavors, etc.
Will land continue to be scarce and get more expensive? It is my opinion that it almost certainly will.