Urban Renaissance and the value of "land" rent

[Amit M.]

this recent article in the Economist offers a thought provoking historical and global perspective on why property values in well established and desirable gateway cities are what they are today. Hint: it's in the intrinsic value of the land itself. Piketty, famed French academic and author of "Capital in the Twenty-First Century" also spoke to this effect. Globalization, technology, urban renewal countered by extreme land and building restrictions are having outsized effects on land values in cities like San Francisco, London, Paris, NYC, Hong Kong, Mumbai, etc.  What makes the article cogent is that it speaks of a global phenomenon, yet one that effects markets locally. An excellent read!

http://www.economist.com/news/briefing/21647622-land-centre-pre-industrial-economy-has-returned-constraint-growth