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The country as a whole -- by definition -- does get the average return. If you get an above-average return on your land value then somebody else has to get a below-average return, otherwise the average would be higher.

As an individual investor you probably don't care about other people's returns, but an economic analysis has to look at the average case and not at what lucky/sophisticated investors get.



But lots of people don't see housing as an investment.




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