years ago people moved so they were ckloser to the cities because that's where the employment was. as the country here prospered and people had inexpensive transportation they moved away from the cities. many towns / cities increased the size requirements for buildable lots, so land was gobbled up as houses had to be built on larger plots. now there are worries of urban sprawl, and some locations are trying to encourage more compact house lots and subdivisions to preserve the wilderness. factor in the increased fuel costs, and you may start finding more people want to commute less, making undeveloped land less desireable to the masses.
there are always exceptions of course. desireable vacation property is always coveted. farm acreage, earth products, and woodlots will always be wanted. the one thing i do see declining in my area are generic houselots. there are a lot of people who invested in land to subdivide, and are now sitting on a bunch of houselots that aren't selling, even though they still have to pay some hefty lot taxes on them. it's all about location though, as i'm sure there are places where construction is booming.
there are always exceptions of course. desireable vacation property is always coveted. farm acreage, earth products, and woodlots will always be wanted. the one thing i do see declining in my area are generic houselots. there are a lot of people who invested in land to subdivide, and are now sitting on a bunch of houselots that aren't selling, even though they still have to pay some hefty lot taxes on them. it's all about location though, as i'm sure there are places where construction is booming.