you're saying that when we let people who want a thing to bid on it, the price that is arrived at between willing buyers and sellers is not the "true" value? Hmm.
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Here's the only way I've seen this happen. Out of town buyers see commodity prices going way up. Start buying land, renting it out. Works for a while, eventually commodity prices go down and their return sucks, or even worse, it doesn't pay for itself (especially if lent on)
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At this point, they either sell to new buyers at the new value, OR the bank takes it and does same. In the part of the world I'm from it's happened twice in my lifetime. But in all cases, yes, land was a money making factory, it's just that the value of the output changed.
End of conversation
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