Stefan MolyneuxVerified account

Someone should have told the Indians.

Exactly, which is why swaths of land in Detroit (and even the houses built on them) are completely worthless. They were selling abandoned houses for $500 with no takers.

It can be a good long term investment, if in the future you can sell to a developer. Also doesn't the fact that land is taxed make it wealth, since the govt taxes all forms of wealth?

Until they find a complete dinosaur skeleton...then you're probably good.

Not true, land is valuable in itself-- you could give land rights to a 3-year old and they would make money off it if it were a good piece of land. No expertise or work required, just choosing between offers.

Land should not be a market commodity it should be a title granted by the government to a family that is held in obligation to steward that land, for Throne and Altar, and provide for the serfs tied to the land.

Land does have inherent value in itself, it can be minimal or it can be significant. If you bought a plot of land in nyc 50 years ago and kept it vacant all this time and sold it now you would be creating significant wealth for yourself.

Taking rent is "producing"? You really are 3rd rate.

Not exactly. Years ago, I bought some land for $12,000. Did nothing with it or to it. It just sat there. I had planned to build a house on it, but changed my mind. About 4 months later, I sold it for $16,000.

I’m amazed at the responses. Almost nobody seems to have fully read your tweet, and/or understood the last bit, the “...in and of itself.”