On the way home today, I was stuck in traffic and started to let my mind wonder.  My mind tip toed across the futuristic highway, one filled with flying vehicles passing the lowly land based vehicles down below.

We all know that commercial real estate is mostly valued based on location.  Locations are declared to be higher in value in areas with high traffic, higher average median income of local population, and so forth.  It dawn on me that if there were flying vehicles in the future, would there really be traffic?  Would there even be "popular" high traffic corners?  If there are no more high traffic areas due to the vehicles taking to the sky, what happens to the value of commercial real estate?

I'll admit it; I've stop at McDonalds on an impulse while driving by or stopped at a light.  If I'm in the air, I'll never see it.  Does that land become devalued?

I believe it's only a matter of time before the natural progression of technology moves us from driving (or autopiloting) our vehicles on land to the air.  I'm curious to know what will happen to land real estate values when that inevitable time comes to the present.

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Steven Castaneda, Realtor, is a real estate consultant with Keller Williams Realty in Houston, Texas. He has been consulting on Houston Texas Real Estate transactions for 2.5 years, and focuses on coaching his clients to make the most informed and intelligent decision possible with their real estate investments.