300 million Americans just had the 'American dream' of owning and preserving their property taken from them. Their protections have been stripped away and the Supreme Court specifically condoned the removal of their property protections by other investors or the government so long as the government is compensated. So, how much is any real estate investment worth in America if it can be taken by government fiat without the consent of the seller or fair market compensation?
Canada now has stronger real property rights than America. Why then would anyone invest in America if property can be taken without consent or market compensation? Private property is the foundation of private enterprise. Without any protection against seizure by competitors all real estate property in America is greatly devalued versus the rest of the world. Other countries which provide greater security for private property are sounder investments than America. Their economies will attract future investments and will prosper. America's will not.
"I think you fail to comprehend the full situation on this issue and your American investments will suffer as a result.
300 million Americans just had the 'American dream' of owning and preserving their property taken from them. Their protections have been stripped away and the Supreme Court specifically condoned the removal of their property protections by other investors or the government so long as the government is compensated. So, how much is any real estate investment worth in America if it can be taken by government fiat without the consent of the seller or fair market compensation?"
You will find my answer unpleasant, although I do not meant to be unpleasant to you personally. Things are what they are.
It is true, as you say, that millions of Americans have had their property protections weakened by this decision of the US Supreme Court.
But the large property developers and wealthy land investment class is not any less secure today than it was the day before yesterday. If one has the money and is a powerful economic actor in America, there is nobody out there who can curry the favor and have his investment condemned. In other words, the owners of the houses that block the expansion of the Costco parking lot are, indeed, now less secure, because if Costco covets that land, it can much more easily induce the local politicians (those who step forward to serve on zoning and planning commissions everywhere are invariably those who are active in the real estate profession in some capacity, who understand the market and the local issues, and who favor development, because it is that sort of person who presents himself and campaigns to obtain such positions) to condemn it and transfer it.
But Costco is not less secure in any way. Because there is nobody bigger than Costco who is going to be able to use this decision to try and wrestle away Costco's store.
So, big real estate developers and enterprises are not, in truth, made any less secure by this decision, because their land is not at risk of being taken by anybody. It is only little people who are cast into the hazard.
Since development will be made easier for the large businesses, this decision offers the prospect of greater ease of building in America, and makes America a more desireable destination for investment dollars to large enterprises. Large enterprises are not in any way threatened by this decisions. Small businesses perhaps, and particulars are, because they can be swept aside more easily.
Really, the decision is abominable for American homeowners, particularly those in the middle and lower classes who do not have the political or business connections to make an attempted raid on their property unrewarding. There will not be any WalMarts going up in Greenwich, Connecticut, anytime soon, for example.
I acknowledge that what I have said about this is really quite reptilian in its coldness. But there is a fundamental tension in America between business interests and individual interests. Most Americans of the right are not wealthy, but are politically aligned with business interests and simply adamantly refuse to acknowledge that their allies do not really have their best interests at heart. With this pro-developer decision, and the refusal to consider closing the US border to the flood of illegal workers, there is a fresh reminder of where, in the end, the leaders of the current political Right will always come down.
Since every proposal I have ever made here as to how to change this dynamic meets here with scorn and ridicule, I will not offer any. I will simply observe that MY investments and operations in America will be enhanced, not hindered, by the decision of the US Supreme Court. YOUR interest in your house is certainly more in the hazard than it was three days ago. If I were a US judge, I would not have done this to you. But your judges DID do this to you. It is now a fact, the law, and it will be exploited by those who are most likely to benefit from it, and least likely to be harmed by it. People like me. If you don't like it (and I certainly would not), then you have to figure out a way to change it.