1. Farmland prices across some regions are skyrocketing, though the commodities associated with the land are experiencing...
Question:
1. Farmland prices across some regions are skyrocketing, though the commodities associated with the land are experiencing a significant decline in prices.
Why is this so? Buying the right land is a sound investment, if you know what you look for and have the right information. With an initial capital of around $300,000, you have a range of sizes and types of land in various parts of the country to choose from. In cities like Tokyo, Bangkok, and Mumbai, $300,000 buys only a small piece of land. In Hokkaido, Koh Phangan, and Tamil Nadu, you would fare better. In some parts of these countries, larger plots of (or several pieces of) land will be available for $300,000. The price and value differences are due to many factors. Political, social and legal restrictions on land ownership and use are comparable across each country.
Differences in land values are associated with land physical attributes, legal or governmental forces, social factors, and economic forces. Since, land is immobile and has an inelastic supply its value varies with demand.
Step by Step Answer:
Principles Of Economics
ISBN: 9780802845610
12 Global Edition
Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster