[dhd415]

I suspect your familiarity is with areas that are much higher cost than average. I've owned houses in two different MSAs in the top 25 in the US and the land value was much lower than 80% of the total value. Land value is also very demand-driven though local zoning regulations (multi-family units, proximity to commercial zones, etc.) do drive some of that demand.

[CapitalistCartr]

Yeah, my familiarity is with the city proper, original streetcar suburbs, etc. I know modern suburbia is cheaper the further one travels from the city center, but this seems just another high price.

Also, I judge the lot value by how much it would sell for without the house. The price for empty (fill-in) lots is ridiculous. I'm all for the market setting prices, but this isn't that. This is Federal interference and local building lobbying.