No matter how big the economy gets not everyone can have the best real estate. There will be always be locations that are preferable to others and no amount of growth will change this.
Improved transportation won't get you the choicest pieces of real estate because you still won't be allowed there. It will make the public places even more crowded perhaps.
Some of what expensive real estate buys you is the _lack_ of other people.
If you're out in the boonies, you can have lack of other people for miles. What you won't have is easy access to the nearest city. Transportation solves that.
