Beautiful place!

I'm not sure building on hills indicates fiat robbery. I'm thinking of the ancient Greek city states... They built plenty on hills.

I'm thinking it probably indicates two things. People were less mobile in the past, so investments had to be closer to home. Couldn't go looking in another country for higher returns, or not as easily.

And the cost of construction is a lot higher now than in the past, relative to other expenses. Now our buildings are made of flimsy paper and it costs 3 lifetimes of wages to build one. That's fiat distortion.