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[b]pete[/b] wrote, [quote]No income, no real estate value. It is not wealth, it reflects wealth.[/quote] Absolutely. Land isn't "wealth" in the sense that land is not accumulated capital: the land itself is not a product of labor; it was already there. But despite that, sites have varying values, with some being quite valuable. This was all settled no later than Ricardo, though some people don't understand it applies in great measure to our more urbanized and industrialized economy, too. - liberal