[dfxm12]

Do you have more info explaining a "rolling lease"? I assume you're leasing the land from the state... On the face of it, what happens to/who owns the improvements on the land after the lease is up or you have to move? What happens with the lease if you have to move?

[jjoonathan]

You sell the lease if you want to move. As for imprevements, we already deal with pricing and depreciating them for tax reasons. The new leaseholder would have to compensate the old leaseholder. This process will be imperfect, but the imperfections seem mundane compared to the imperfections caused by tying a financial asset to shelter and especially mundane in places where land value trumps improvement value or where depreciation schedule matches lease duration (both of which are common). We are trading big problems for small problems.