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What is the proper, relationship between the cost of a lot and the value of the house on it? This question concerned building economists more in the past than it does now. Old rules of thumb have lost much of their meaning. It used to be said that land should represent about one-sixth of the home’s purchase price. Then it moved up to one-fifth and is now approaching one-fourth. And it will change again as the cost of land continues to rise.
Nevertheless, the land value versus house value ratio cannot be totally
dismissed because it does, to some extent, affect the
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