Most people making money on real-estate are doing so not on yield but on capital gains. The rise in land prices make the cash.<p>With proper taxes discouraging speculation, like land value tax, income taxes could be far lower and we&#x27;d have a world where working actually got you somewhere instead of leveraging up on land to build a property mini-empire.<p>Would love to know how many people made very little from their failed SF startup but overall made out good due to land prices appreciation.<p>HN is full to the brim with people complaining about high rents. You are not the common case.