[kimdouglasmason]

There are vast amounts of land, even within American cities, that is very cheap. The amount of usable land for urban purposes might as well be infinite.

Land is only expensive in a few select locations that have specific infrastructure and industries. It is the infrastructure and industries that provide the value; even the most picturesque accessible fertile land is quite cheap if it's not in a city.

[mcguire]

Land in close proximity to a few select locations is a finite resource. (The point of Manhattan, say, is that it's compact.)