If this logic worked, all land and therefore rent would currently be ~free since there's ample open space all over the continent.
The price of land is set by the productivity of it. Productivity goes up (by increased density, public infrastructure, private investment, or technological advancement) -> price of land goes up.
Actually, the part that that person was focusing on was that the fertility rate is below the replacement rate. Yeah, if we also decrease our immigration rate, our population could peak out even in a decade or two:
https://www.axios.com/2023/11/09/us-population-decline-down-...
"Price of land goes up": In simple terms, the Internet is providing huge areas of land suddenly now feasible for use; the larger supply will lower US average costs per acre.
Empirically hasn't happened. It turns out people enjoy being near other people, so actually the increase in productivity has outstripped preference for less-dense living.
The price of land is set by the productivity of it. Productivity goes up (by increased density, public infrastructure, private investment, or technological advancement) -> price of land goes up.