It's the right to exclusively use some land and accompanying buildingseven though the neighborhood hasn't really changed in that time
I have no idea where you get that notion. Are you suggesting that Manhattan and the surrounding area hasn't changed? It's the very changes that have driven the rise in value for living there.
it's generally the right to receive a certain percentage of the profits of a company over time
Not even close. Most equities these days don't distribute dividends.
As another responder said, you're not understanding how people value assets - whether they be property or stocks.
Value is inherently fluid but ultimately only what someone will pay for it. Your arguments for the limited nature of property vs stocks are tortured. You're working extremely hard to call gains from property value "undue". Gains from speculation are fundamentally the same whether they come from stocks, currency, property, commodities, collectors items, whatever.
I have no idea where you get that notion. Are you suggesting that Manhattan and the surrounding area hasn't changed? It's the very changes that have driven the rise in value for living there.
it's generally the right to receive a certain percentage of the profits of a company over time
Not even close. Most equities these days don't distribute dividends.
As another responder said, you're not understanding how people value assets - whether they be property or stocks.
Value is inherently fluid but ultimately only what someone will pay for it. Your arguments for the limited nature of property vs stocks are tortured. You're working extremely hard to call gains from property value "undue". Gains from speculation are fundamentally the same whether they come from stocks, currency, property, commodities, collectors items, whatever.