The main concern of the author has been with the use of land and urban growth as it relates to profit making investment while at the same time struggling to preserve a standard of quality in development and re-development. The author could not list all the probable land problems of the next two decades in North and South America; and if he could, there would be no space within this book to do so. The geographical diversity which characterises the United States will alter the importance of various problems from region to region and state to state. It was possible in this book however, to suggest the broadest examples of land problems and urban growth likely to sharpen during the next few decades, and to suggest some of the more important lines of work. The author's ten years of experience in Real Estate Investment in North and South America and years of study in various universities and numerous interviews as well as discussions with experts revealed that the most important land problems for the near future lie in the field of urban land use and urban growth. More than two-thirds of physical property is now found in urban areas, and most of the net future investment will occur there together with population growth. The author through his land experience found it difficult to contrast present land use and land arrangements with any sort of ideal, yet, the judgment may be offered that the present diverges more from the ideal in urban areas than in any other land use situation. He has looked for the point of leverage at which public policy might improve circumstances and free private energies to contribute to, not work against, the broader public interests. The author found that a greater share of all future land economics research will be directed toward the city. Each major land use problem requires land economics research; the greatest need lies with urban, suburban and metropolitan areas. By and large, very little economic land research has been directed toward cities. Many valuable studies should be made by city planners, political scientists and sociologists. Comparable to the many improvements of rural land use there has been little or nothing done for urban areas. The author felt that during the next several decades the older parts of virtually all cities will have to be re-built, other parts of the same cities must have their value and productivity maintained by group action; therefore, vast new additions will take place around its boundaries. Theobjective of all this is a pleasant, productive and prosperous city to live in. The impending changes within and around cities willinvolve substantial physical conversion of land. One major field of research will be directed toward the design of the most efficient and livable urban areas. Landscape architects, transportation and utility engineers and other specialists may make the major contribution in this direction. Even on this matter of physical layout the land economist should have something to contribute. He should be particularly concerned with avoidance of the massive waste of land which characterises urban areas today. A consideration of improvements on or to land leads rather directly into the matter of intensity of land use. Land is improved in order to be used more fully, or more intensively; and more intensive use usually recmires improvements in order to be effective. However, intensity and improvements are not invariably and directly correlated, and in any event intensity is a decree of use, whereas improvements are a form of investment in land which in turn leads to real estate profit. 4 The author directs his book "Real Estate as an Investment" in Appendix "Al", for further references.
Site-Value Taxation of Real Estate and Land Use at the Rural-Urban Fringe
