The key observation is that the rural land hasn't appreciated because of wealth created by the rural people...
To first order, isn't this true everywhere?Urban areas may be good at producing capital because they have to be; when one must trade for resources, one must develop export goods and services. On the other hand, when one just happens to have title to a bunch of extractable resources, it seems common to find people who are much better at spending capital than accumulating it.
-Dave
