It depends. Land appreciation while it does not generate cashflow can be leveraged. Since 2016 when I bought my acreage, my property has gone up in value 5 times, but since it's ag exempt, my property taxes are nothing. That's a lot better than any other investment in my portafolio. Plus, my little 62 acre ranch generates quite a bit of expenses on improvements that appreciate its value that go right against my real job income, so I don't send that much to Uncle Sugar every year. The cow sales are just the cherry on cake for me. Lastly, I have loads of fun. If I ever get tired of running a ranching operation, I can always lease or hay the property. Yes, land is not very liquid, but 1, it can be leveraged; 2, once ag exempt the taxes are nothing, and 3, it provides options like leasing or a fall back location if the city life becomes too unbearable.