I love the theory, wince at the reality 😂 (under the iceberg stuff like infrastructure eg utilities and LA provisions like schools, GPs etc). But I love ideas like this because they help you probe the “how”, which is worthwhile or we’d never change anything 🐌

Also, the obvious ways this would be abused are present today: developers approaching private land owners over time to purchase their land at very low prices. Once they get a big enough contiguous chunk a massive development pops up (with houses selling for way more than the original owner got paid)