Land value is a residual
What is urban land worth?
There is an answer:
A structural and formulaic algorithm.
Easily deducible.
Globally applicable — works from Alabama to Zanzibar.
Yet often ignored, especially by policymakers.
“Why, a four-year-old child could understand this report! Run out and find me a four-year-old child — I can’t make head nor tail of it.” — Duck Soup.
Functionally, what characterizes [...]
