Lecture
This lecture explores different perspectives on land economics, including the viewpoints of landowners, investors, users, and buyers. It delves into the impact of taxes on land hoarding, the role of transaction costs in buyer-seller interactions, and the financial considerations for various stakeholders in land transactions. The lecture also discusses potential measures to counter land hoarding, such as zoning regulations and heavy property taxes. Through a series of economic models and scenarios, the instructor analyzes the decision-making processes of landowners, investors, borrowers, and patient buyers, shedding light on the complex dynamics of real estate markets.