landbubble
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Thank you for a clear explanation of land value and how speculation inflates it beyond it's real economic worth and beyond people's ability to pay thus resulting in a periodic price crash. Taxing land value is the best solution to this problem. It is important to say that this solution goes hand in hand with eliminating other taxes on things that do respond to the market like labor and real capital. For example the property tax should be on land value only and not on improvements.
ourearthhome 2 years ago