High Court: Govts Can Take Property for Econ Development

Bloomberg News

[Helmholtz]

U.S. Supreme Court says cities have broad powers to take property.

[Torie]

Well the good news for you, is that unless the plan is broad scale, in the futre subsequent more piecemeal takings, like taking a factory to put in a car dealership which generates more tax revenues, will be easily distinguishable from this case on its facts. But the general principle abopted in the earlier two decisions, really doesn't warrant that. I like the majority consider it to be quite broad gauge indeed, and the attempt to cut it back while hewing to that principle is unsatisfactory. A new princple will have to be fashioned when the piecemeal cases come down, or the O'Connor claims will prove warranted. Kennedy in his discursive way was kind of suggesting that.

Here is another thought. It seems "everybody" agrees it is just dandy constitutionally to tear down a neighborhood to build a sports stadium, because the public "uses" it (even if the stadium is privately owned). That is what happened in LA, when Dodger stadium was built (and is privately owned). But doesn't the public also use retail establishments? What is the difference?

[TheForceOfOne]

I guess big brother got hold of that thread. (looks out the window and closes blinds)

[CindyDawg]

There isn't a difference. Both are wrong.

[Roccus]

Something that seems to be forgotten in this is that we're not only talking about real estate, we're talking personal property. Anything and everything you own is now in jeopardy!

[CindyDawg]

DC is always for sale, right? I wonder what FR could buy the Supremes place for?

[FastCoyote]

"Apparently Panic Ensues on an hourly basis here"

You'd panic if you lived in Ls Vegas and a bunch of County Commissioners were caught taking bibes from developers (up to $200,000!!!)

[Craven Moorhead]

Ehhh, property is SOOOO transitory. Remember back to college, when we didn't have ANYTHING? You can't take it with you anyways! :)

[A Jovial Cad]

Anything and everything you own is now in jeopardy!

Preeecisely.

[montag813]

You are a fool liberal wihtout any sense if you do not see the great injustice these communist liberal judges have done today.

Again with the insults from a newbie. Why don't you actually read my comments, which regard where real estate investors should focus on in light of this decision.

[montag813]

knock of the personal attacks

Sorry. It is infuriating for a newbie to miscontrue my comments and then call me a troll or commie. Unreal. However, I apologize for responding in kind.

[Craven Moorhead]

This is my take on it. It should prevent isolated cases of ED from occuring.
Remember guys, ED is taking place now for Wal-Mart when it threatens to move just outside a city's tax base (or into another's tax base). It's ED at gunpoint, essentially.
Why? Well, cities do not survive on houses alone! Houses are tax-sinks and will always be inferior to $$$ retail.
(head hurts)

[TheForceOfOne]

You got it. You seem to have a lot more knowledge about this than I do. I started looking at fifth Amendment law earlier at

http://caselaw.lp.findlaw.com/data/constitution/amendment05/16.html#t245 and

http://www.voteview.com/entrep.htm

but to a novice it is very complicated.

Time for bed, I would like to leave on a high note like George Costanza, but I got nothing. lol

[Haru Hara Haruko]

This thread is not listed on the main link about this topic. FR, home of the brave?

[Craven Moorhead]

No doubt, I hate cutting through red-tape :)

[FastCoyote]

"Apparently Panic Ensues on an hourly basis here"

You'd panic too if you lived in Las Vegas and a bunch of County Commissioners were caught taking bribes from developers (up to $200,000!!!) Look out now, it will be open season on land, we already had a bunch of scandals downtown.

(had to correct misspellings)

[Roccus]

I may not be able to take it with me, but I see no reason to not enjoy the fruits of my life's labor while I'm here.

[Craven Moorhead]

Wow. Hard to believe from a town built on mob money, huh? :)

[CindyDawg]

FR, home of the brave?

I'll buy that:')

[fooman]

I wish we did have general strike on april 15. That might lower our taxes.

The general strike maybe is not such a bad weapon of the people, though the farmers of france do seem to abuse the strike.

[TheSpottedOwl]

Thanks for that link. Scary how this has become true. The question is, have they won at last?