Why is the wireless spectrum compared to oceanfront property?

What will be an ideal response?

The wireless spectrum is regulated by governments since it is a limited public good. Most of the spectrum usable for wireless transmission is already reserved for TV, cell phones, radio, law enforcement, emergency services, defense, and various government agencies. Some of the remaining bandwidth is left unlicensed and available for any devices to use, such as the bandwidth used for wifi. Since no carrier has control, no fees are charged to use that bandwidth, though some router owners, such as hotels, might want some payment for using their Internet connection. Thus the spectrum, short in supply and high in demand, is available for sale like oceanfront property.