The rise in wealth in the United States and many other countries is expected to impact land values. For instance, the gross national product in the US has grown more than four times the rate of population increase in the past three decades, indicating increased prosperity. In addition, there is a trend towards increasing family incomes, leading to more people moving into higher income brackets. This means that a larger portion of the population now has the ability to fulfill their social desires. As a result, more people are likely to invest in real estate for either financial gain or personal use, as well as to take advantage of recreational opportunities. Other related trends such as shorter work weeks, earlier retirements, and increased leisure activities also point towards a growing emphasis on home ownership, second homes, recreational facilities like parks, golf courses, and resorts, and overall, a boost in land demand.
The increasing industrialization of society is fueling the trend toward urbanization. Improved transportation systems and modern freeway networks are leading to the growth of satellite communities and business centers in suburban areas. Metropolitan areas are expanding outward in wider circles, forming major megalopolis developments and strip cities. The location of major highway systems plays a significant role in determining the pathways of expansion, much like how railroads and ship canals influenced urban development in the past. In today’s world, highway cloverleaves serve as the central hubs around which major development flourishes, similar to how railroad stations and depots did in the past.