property buyers see property as an investment, page-3

"But is the land any more useful or productive in Richmond than the land in Dandenong?

Here’s our point. A house in Richmond is no more productive to the economy than a house in Dandenong. Yet it is X times more expensive, and most probably requires a debt that much larger."

This part completely lost me. Has there been a time in history, or a place on earth, where there was no value in location with regards to property?

A house in Richmond no more productive than a house in Dandenong? Well, I live in good old 3121, and work in the CBD. More people work in and around the CBD than anywhere else... I'm sure the ten hours travel time I am saving by not living in Dandenong has a value, and it seems many other people would agree. Let's see how "productive to the economy" it would be if everyone living, working and playing in the inner city were to move an hour out... LOL!

Three of the least practical paragraphs I have ever read.