It is the real estate agents' mantra: "Location, location, location." In a nutshell, 'location, location, location' means identical homes can increase or decrease in value due to location. When you buy a home, you can change the structure, remodel it, or alter the home's layout, but generally you cannot move it. The home and its value are attached to its location.
Story-telling is also closely tied to location. Location shooting is the practice of filming in the actual setting in which a story takes place rather than on a sound stage or back lot. Filmmakers often choose to shoot on location because they believe that greater realism can be achieved in a 'real' place. And news outlets love to report on location, adding a first-hand, visual experience to the story.
Our lives are about location, too. Most of us work at the same place each day, visit the same stores and friends each week, and go home to the same house each evening. Jobs, relationships, and practical considerations tie us