Jacob, a developer, invested in infrastructure for his subdivision to recoup his investment. This illustrates which economic characteristic of real property?

The characteristic illustrated by Jacob's investment in infrastructure for his subdivision is permanence. In real estate, permanence refers to the long-lasting nature of improvements and investments made to the property. It emphasizes that the enhancements, such as roads, utilities, and other foundational elements, are integral to the property’s value over time.

When Jacob invests in infrastructure, he is demonstrating an understanding that such improvements will not only enhance the attractiveness of the subdivision but also serve to increase its functionality and overall market value. This aligns with the concept of permanence, as these investments are designed to remain as enduring features of the property.

Other characteristics, such as liquidity, scarcity, and modification, do not directly connect to Jacob's actions in this context. Liquidity pertains to how quickly an asset can be converted into cash, scarcity deals with the limited availability of land, and modification refers to the ability to alter the property. While these aspects may also be relevant in real estate, they do not apply to the scenario of investing in infrastructure as well as permanence does.