Peasants of China.
We the people of the US, now have the same limited number of futile avenues of redress against undue government confiscation seizure and eminent domain tyranny as peasants in China.
City councils can now condemn and take through eminent domain entire communities, openly flouting their immunity to prosecution. I know of a city council that has been waiting on this decision, they want to evict 1200+ people from a neighborhood, for redevelopment.
And like peasants in China, our only options when targeted by the government will be emotional pleas to the media, or court proceedings to beg for 75 cents on the dollar instead of 10 cents on the dollars for our properties.
Stop using the phrases "private property", and "real estate", and start using appropriate language, "privately leased government owned land, lease bought out at government's discretion", or "residential and commercial sharecropping." Property taxes are your yearly lease, eminent domain proceedings your eviction notice, and the cents on the dollar the government entity graces you with at the closing is your payment for improvements to the land and structures.
Renters in some states now have more rights to fight an eviction form their landlord then property/home owners have fighting eminent domain proceedings by government entities. At least commercial victims of eminent domain will be able to evaulate their cost basis to decide if dragging out their buy out values in court are worth it or not.
City councils are going to be bribed constantly, continuously, forever, by land developers and corporations wanting to reclaim urban zones, taxpayers who footed the bill for decades will be constantly screwed over by city councils, forever,
Government owns the casino, employs the cheating dealer, fixes the deck, cheats the deal, and steals the pot.
Urban New Jersey is about to become a real estate war zone.
Can you imagine how many developers will be taking council members out to dinner tonight?