I had a conversation once with a very smart Dr. who stated that this concept does not exist in all cultures and was/is more prevalent in certain cultures in centuries past.

Purchase price - $255,000Expected rehab - $80,000Expected ARV - $425,000Actual rehab/carrying costs - $155,000Actual sell price - $525,000Profit - $76,400Time to complete – 7 months to get on market, 9 months to closeDOM – 27 days See link to “after” images here: Our First Flip The HouseThis was a mid century 3/2 2300 sq ft home on a large ½ acre lot near White Rock Lake in Dallas.

High desert areas.. 1 million plus lots or parcels created turn of the century right up until the 30's  traded at tax sales the last 100 years.and its all over AZ NM CO  NV  parts of Oregon..

Looks like a deal of the century ..

Secondly, what is with the 17th century state's rights rhetoric, anyways?

If you want to give that distinction to anyone, I would vote for Pope Urban VIII, who pretty-much single-handedly discredited Copernicus and Galileo, and kept the heliocentric theory from taking hold for about 200 years, despite irrefutable mathematical proof.That set us back about two centuries

Last I looked The coastal Ca cities (San Jose, San Francisco, San Diego, LA, OC, etc all had at least a 8/10 neighborhoodscout appreciation rating for this century with most having 10/10.Case shiller used to release best residential Investment market for this century based on total return (appreciation, cash flow, expenses, etc).  

You have only 24 hours in the day...your funds have an infinite number of hours, that can be compounded.Einstein said the greatest invention of the 20th century was "compound interest".  

It also became important in the American manufacturing industry at the beginning of the 20th century.

One thing to remember is some of the wealthiest people in the twentieth century made their money during the great depression.