I develop land in the US. Like others have mentioned, the price of homes varies on your location. Even in Florida, you can pay as little as $200,000 for a small home. In a neighborhood only a mile away, that same house can sell for nearly $400,000.
I could give you dozens of reasons for it, but they would be based upon many different needs and interests based on most Americans needs or wants.
You can buy a piece of land or a lot(in US terms) for $25,000US in one part of a community and still pay $300,000 for the same size in the same community. Lots of variables.
Most people think they understand real estate or land values. In reality, they don't have a clue.
Your land purchase could have been a good investment, or maybe not. If you got it where you want and you are happy about what you paid for it, then it doesn't really matter. It will only matter if you wanted to sell it.
It is near the end of the end....
