[robertlagrant]

The same could be said for a business that rents out classic cars.

[scatters]

Where do you think classic cars come from? Classic cars are constantly being created as existing cars age into that bracket.

[robertlagrant]

Sure, and people buy them up, just as they buy land. They're a finite resource.

[scatters]

They are an elastic resource. The amount being created is responsive to demand.

Also, they're substitutable; if people can't afford classic cars, they'll buy art, or wine, or yachts, or Rolexes, or a thousand other luxury goods. Land is only imperfectly substitutable, and it substitution has definite economic costs.