A:
They can take off and land in the same place, but it doesn't happen very often. It is quite an unusual day in most of the world to have winds blowing in almost opposite directions, and balloons can't be steered. They become part of the wind and move in the direction its moving. Albuquerque is unique in this regard, due to the Albuquerque Box.
On the eastern edge of Albuquerque are the Sandia Mountains, rising 6,000 feet above the city, which itself is located along the Rio Grande River valley. So, in the morning the cold air slips down the mountain, into the valley and, being cold, flows down stream, to the south. When the sun comes up, because the mountain is in its way, it heats the air at about 800 feet above the ground first. That air, being warmer, travels north. So the balloonist can often take off, float to the south, then rise to about 800 feet and begin to move to the north. And sometimes they can do that for about an hour or so, circling above the balloon park. And so the balloon can take off and land at almost the same place. Its makes the Balloon Fiesta the most colorful, exciting balloon event in the world!