Decay: gold: no land: no Limited supply: gold: limited , although still mining an extra 2% per annum land: obviously limited. Some categories of land are actually getting scarcer (ex. forests) Productive: gold : no land: YES
Conclusion: land is better than gold
I'm incredibly in favor of owning as much land as possible! :)
Surely we should all own 10:1 or 100:1 properties over gold in value.
unfortunately in the above though, you forget the main thing Danny - you have to pay taxes on land every year, and indeed almost always substantial operating costs (clearing, insurance, maintenance, whatever the case may be) (certainly you have to store say gold or diamonds but the cost is trivial)
Land is useless as a commodity, and this is the reason it's never used as a commodity, whereas, say, commodities :) have been used commonly as commodities for all time.
This is why reits are poor investments and only do well for a couple of years when everyone's excited about low interest rates; every reit ever has ended up screwing up with the One Bad Big Deal in its portfolio, the shopping center gone wrong, the housing estate next to a fault line, the confiscated land in mexico, or whatever the case may be.
gold (and silver) works very well as money; land and 4x2 apartment blocks work very well as investments or businsses!
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