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Is the Supply of Urban Land Running Out?
Lessinger, Jack
3/3  (Spring 1961): 28-37

Urban land shortages are likely to be self-imposed, more imaginary than real, or if real, unnecessary. The shortage problem would be indicated by unreasonable increases in prices for building sites due to the physical unavailability of suitable land. However, this article directs attention to the probable availability of large supplies of land in relation to short-run, demands in most of the United States' metropolitan areas. The land shortage problem must be sharply differentiated from three other conditions. First, higher land prices may simply reflect general inflation in the prices of all goods. Second, land should increase in value as site-qualities improve commensurate with metropolitan growth. Third, prices may increase due to a speculative complex. Every metropolitan area is one huge land market. The various parts of this market compete with each other to provide accessibility to a common fund of metropolitan opportunities. By their decisions the metropolitan authorities can significantly control the conditions of competition among the various parts.

 

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