Correct , but with a right wing slant, but few of us are perfect![]()
It was very relevant, and the root cause of the problem with eminent domain.
Keep thinking on it perhaps will one day overcome our republicanism and understand.
eminent domain was first abused by the state of new york in the 40's, when the NY supreme court redefined the public USE portion of the 5th amendment to read public BENEFIT, meaning that a higher tax base and revenue could then be spent on public goods and services, thereby satisfying the public USE clause. It's been a downhill slide of property rights since then, the fault of BOTH left and right. Liberals AND conservatives don't believe you deserve property rights, get over it of fight violently for them. up to you.
the issue was government wanted more tax dollars.
As far as me going Marxist, not happening.
That was the excuse / rationalization. The reason was developers wanted to make money on the deal.
That was the excuse / rationalization. The reason was developers wanted to make money on the deal.
all that valuable real estate just sitting there under run down houses when someone could make money off of it.
Since it's hard to tell tone on this board I can't tell how you are stating this second sentence. I work with many developers. I haven't heard one say we want to do a deal because it was not profitable.
Since politicians don't do anything for free or goodwill what do you believe their reason was for allowing this development since you don't think they did it for more tax revenue?
by god you've figured out how real estate works. You might have a future in our business. Looking for undervalued real estate is what we do.
You don't get it do ya ? Where did I say it was not profitable ?
I said just the opposite.
Yep you are part of the cause of the problem dude.
Ok, real estate is part of the evil capitalist system. Too bad we can't be like Russia or Cuba where basically non-profits build the housing and commercial buildings and the government owns them.
How do socialists such as yourself end up with so much money? Maybe that is my problem. I might need to evaluate what I'm doing.
I am speaking of this particular type of instance dude. Where a developer wants to develop an area but the people do not want to sell, so he convinces the local govt what a good idea it is and says how much more taxes they would get,etc...
yeah, the government needed to say no in this case. I'll promise you the politicians weren't swindled in this deal. From my reading it sounds like this was a city that was struggling economically and thought new development could help jumpstart its resurgence. (As I'm sure you're aware this type of thinking goes on in cities across America.) So the local politicians saw increased tax dollars and probably the hope that more would follow. The developer of course saw a chance to make money.
Yep and it was still wrong, but an acceptable real estate business practice per the industry.
what do you mean an 'acceptable practice'?
Yep and it was still wrong, but an acceptable real estate business practice per the industry.
Developers must work with cities when attempting new development. You must get multiple approvals along the way. The city takes the lead as far as eminent domain. The City is not a victim here. They are the ones that did this.