I'm wondering if there is correlation between lack of jobs and lower
land prices? Probably too many 'other' factors...
There is a correlation between income and land prices. Jobs may be an issue
but, for instance, in retirement areas, the income arrives at the bank or
in the mailbox. Such areas--one is Mountain Home, Arkansas--provide lots of
service jobs for the younger folks who support the retirement community
needs. In these low population density retirement areas, the younger folks
typically live farther out from the town or farther away from the lakes and
golf courses. Some areas have few jobs but are within weekend commute
distance, so become yuppie weekender havens, for instance southwest
Wisconsin, within two or three hours of Chicago and Minneapolis. These are
the folks we like to joke about. They drive in with their Beemers, drive up
prices with their spoils, and want that stinky farm abolished. And better
restaurants down the road. And more services.