If prices of a valuable (rentable) resource are high it means that those who own the resource are able to rent it out to others at high cost and subsequently purchase yet more. Any new land that does enter the market can be purchased by those already with land, they are rich, and this dynamic results in (exacerbates) great disparities of wealth. Even if we do not have a right to land (if we could sell it that would result in perpetual wealth), there is a problem with people being in a position to profit from our poverty. It is too difficult for people to get their own property if too great a quantity is owned by an exclusive group. Many people have more than enough land.
A penalty for owning too much land would improve prices for the rest of the population.
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