Or maybe every structure built on a lot decreases its value?

I just dont understand why real property should appreciate just by existing and being bought and sold. Isnt that just money for nothing? Doesnt that run counter to the old calvinist ethos of WORKING for money?

What? Are people just going to live and sleep outside just because there's no more profit in drawing imaginary lines on the ground?

> Or maybe every structure built on a lot decreases its value?

That is actually how it works right now

Structures depreciate - a new house is worth more than an old one (unless there is some unique historic/sentimental value)

It's a bit tricky because part of the valuation is 'replacement value'. A problem with San Francisco is building now costs something like $600-1000 a sqft.