Adam Ozimek published an article in Forbes entitled “No, Robert Shiller: In The Long Run, Land Prices In Some Areas Can Go Up And Stay Up” which mentions Econsult Solutions, Inc.’s Real Estate Value Trend (2013 Q1). This article and report are also cited in Slate magazine:
…But as Adam Ozimek argues, Shiller seems to go too far by arguing that land never sees sustained systematic price increases. Ozimek pulls a chart from an Econsult report on the Philadelphia housing market that pretty clearly illustrates the existence of sustained changes in the relative price of different neighborhoods in the Philadelphia area. And it’s hard to see how this could be any other way.
via “Housing isn’t an investment, but land is.” – Slate >LINK TO ARTICLE