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That's what I find odd about JLF's approach. If you truly believe that land appreciates and buildings depreciate, then buying something with 30% land component (ie 70% building) is a very poor way to do it. It follows that a land value component of 60% is twice as good while one of 90%...

Sounds like he's changed his tune slightly; his books refer to 30% land value content, but he's now upped it to 40%. It's still short of the 70-80% one can obtain from good value established homes. I also wonder about the expression 'high quality suburbs'. Are you sure that's not just...