We're not running out of land. That's never been an issue (and even if it was we would just build up like we already do with cities) although people assume it is when they hear about population problems. Rather, the issue is resources. There simply aren't enough to go around as it is now, and the only reason we don't have shortages right now is because most of the world lives in deep poverty and thus consumes very little resources.
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Before you say "that graph isn't accurate because it assumes things will stay at the current level of consumption forever" keep in mind that that's actually a BEST case scenario. In reality the current rate of consumption can only possibly increase, not only due to an ever growing population but also thanks to China and India about to modernize (which will place another 2 billion people's worth of stress on those resources).
And keep in mind that the above graph is only talking about metals. There are a lot of other resources that are running out, like oil, helium, and even fresh water.
Also, don't think that nothing bad will happen until every last bit of a resource is depleted. In reality scarcities are just as bad as shortages and things will get very painful long before we ever run out of a given resource. For example, if it weren't for the US government keeping the price of helium down right now, a single helium filled party balloon would actually cost over a hundred dollars right now.
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