Comment Re:Completely wrong summary (Score 1) 319
It's the amount a willing buyer and a willing seller will agree on if neither is under any external constraint (such as rent controls).
There is no such thing as "if neither is under any external constraint".
The very nature of "property" is that it is an external constraint created and enforced by the state. It's the state saying to the "owner", "Here is a piece of paper that says you own this thing. If anyone uses it without your consent, we will send men with guns to stop them," thus placing a constraint on everyone else.