"It just won't pay to own land."
Oh yes it will!
I am among those who benefit greatly from yesterday's decision. Foreign (and American) investors like to invest in US real estate development, because labor costs are low, taxes are relatively low, local governments are usually very friendly to getting as much money as they can, and the profits are high.
The difficulties that usually loom in my deals are usually threats of environmental problems (these ebb or flow depending on whether business-friendly or environmentalist-friendly regulators sit in Washington. Business-friendly regulators are not as keen on enforcement), and problems assembling land: the "lone holdout" who won't sell her house and demands an extortionate price.
Yesterday's decision was a godsend for real estate development. Town councils are made up of local businessmen, and they're always ready to cut a deal.
Individuals can no longer block development. If the town council wants to go ahead with a plan we negotiate, the lone holdout will now be removed and paid something reasonable, as opposed to the extortionate prices they always demand. Quick condemnation of private property is great for investors in land development.
Including lots of French ones.
Read: Individuals can no longer own their land if you see a way you can profit.
I'm glad this Soviet-style ruling makes you money. After all, that's all that counts, right?
Indeed it is; it hadn't occurred to me, but you are right, we may well see some additional FDI coming in on the heels of this deplorable decision.