In an animated GIF that is equally depressing but refreshingly not gross to look at, cost-information website How Much maps the growth in the average value of land needed to build an average home between 1975 and 2015. Unlike the crazily distorted cartogram we warily eyed last week, this map looks only at land value, not overall property value (which would include the value of structures). How Much used data from the Lincoln Institute of Land Policy to shed light on Americans' very bumpy tussle with real-estate prices over time, broken down state by state.
The prices, we should note, are not adjusted for inflation, which virtually guarantees an overall rise over the decades. But even in nominal dollars, land values fall through the floor during the recession in states including Nevada, Arizona, and Florida. Note also that the color red—which takes over California starting in 1989 and stays permanently in place starting in 1999—cuts off at $700,000, a woefully inadequate sum for times like this. Might we suggest a level up, perhaps in black?
· Bonkers Map of Property Value Distorts US Beyond Recognition [Curbed SF]
· This Animated Map Shows the Rising Cost of Land in the US in the Past 40 Years [How Much]
· Land Prices by State [Lincoln Institute of Land Policy]
· San Francisco's Median Home Sale Price Is Now Up to $1.16M [Curbed SF]