What does "location, location, location" really mean?

What does "location, location, location" really mean?

John Caliendo (Realtor) gives expert video advice on: What is the difference between a "real estate agent" and a "real estate broker"?; Do I need a realtor in order to buy a house?; How does a realtor get paid? and more...

With regards to “location, location, location”, when it comes to real estate, houses may come and go, neighborhoods may change; but the only thing that is finite and limited is the ground underneath us, the land. As the saying goes, "They aren't making any more of it”. So, if you have a good location, it will be a good location for a good long time. This is the cliché, "location, location, location".