It means by property rights something new, not something traditional. It means the end of both human and natural communities. It would abandon the entire web of public obligations undertaken by those who own land, obligations that we call the public trust. It substitutes for that traditional idea the concept that each landowner is a sovereign state, immune from regulation and obligation to his neighbors. This new politics would allow every landowner virtually to secede from the union.
Land is real estate.
Real, in this case, does not mean solid. In England, kings gave out lands to their feudal retainers. In the 13 colonies, land was held by virtue of royal charters. In the new states, the federal government either purchased or conquered new lands, and then sold or gave it away to settlers. This culminated in the Homestead Act.