[ adj ] not elastic <adj.all> economists speak of an inelastic price structure
Inelastic \In`e*las"tic\, a. 1. Not elastic.
2. (Economics) reacting little to changing price; -- of demand; as, Potatoes have an inelastic demand. [PJC]
When rising demand collides with an inelastic supply, it does not take a genius to see that the result must be higher prices. To spell out the causation: recovering demand leads to rising house prices, which in turn boosts the price of land.