Prohibitive cost of land
Other Names: Inflated land values
High cost of land
Overpriced valuable land
Rising land price
Land levelling costs
Cost of clearing land
Nature: Rising land prices make it impossible for hard-working families to buy homes. Land prices make it difficult for new businesses to be housed. Authorities cannot afford to build parks or public transportation systems.
Incidence: Extreme examples include the indication that the cost of all real estate in Tokyo exceeds the cost of all real estate in the USA. That of Kanagawa prefecture (bordering Tokyo) is equivalent to the cost of all real estate in France, Germany, Italy and the UK.
Counter Claim: A sudden decline in land prices would reduce the availability of investment funds.
Problem Type: E: Emanations of other problems
Date of last update 18.02.1997 – 00:00 CET