>In the housing game, you buy land and build a house. Excluding inflation, the value of the land goes up.
North America is filled with property, with or without a house, that is practically worthless. For example, Detroit. "Land goes up" is a narrow perspective outside of major metropolitan centres that happen to be part of the modern economy.
This is the exception which makes the rule. Any area with massive economic devastation is of course going to vary from this rule. The same is true of any other commodity, or thing you can own, that is immovable and in that 'depressed economic zone'.
But certainly, where I live, rural areas.. very rural areas too, the land goes up, slowly, surely, but the houses follow the rules I originally stipulated. It's really quite a universal.
North America is filled with property, with or without a house, that is practically worthless. For example, Detroit. "Land goes up" is a narrow perspective outside of major metropolitan centres that happen to be part of the modern economy.