As the block of pop-up shacks is developed, as those small investments are growing into a place, the land underneath each of those shacks increases in value. Simultaneous with the rising land values, the shacks themselves are declining. The owners of these shacks, which were hastily constructed of rather marginal materials anyway, must put resources and energy into maintaining them if they want them to retain their value. If they don’t make those maintenance investments, their buildings will start to decline. This condition – rising land values and declining improvement values – accelerates
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