Most places have real property taxes (and to a lesser extent, adverse possession laws) that act as a beneficial (to society) drag on infinite holding periods of land. That tends to be a tax on the current (improved) value of the land, where others have made an argument that a tax on unimproved value would work differently (in some ways better, in some ways worse).

My apologies on the prior post; I meant to imply that buying unimproved land in the "right" place is a great long-term investment.