SOCIO-ECONOMIC DETERMINANTS OF RURAL LAND VALUES IN GREENBRIER COUNTY, WEST VIRGINIA
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Land values have tended to increase at a substantially more
rapid rate than the general level of prices in recent years. There
is a growing body of evidence that this is occurring due, in part,
to factors other than agricultural opportunity costs, size of
parcel, improvements and other factors historically related to
land values (Bishop, Bryant, Pasour). Some other factors influencing
rural land values seem to include urbanization, investment
or speculation, and increasing wealth or incomes. Additional
information on the determinants of land values is needed
if these phenomena are to be more completely understood. This
paper reports on a study of the relationships of socio-economic
characteristic of land owners (buyers and sellers) and rural land
values.