[ExSES]

Many residents thought they owned the lake behind their $300,000 homes. They mowed up to the water line and chipped in yearly to treat the lake for algae blooms. So it came as quite a shock Thursday when workers began erecting a 6-foot-high fence around the lake, obliterating their view.

About 20 years ago, I purchased a portion of the lake bottom behind my lot from the developer. Some neighbors said "I'm not going to pay for what I already have" (it only cost $200 at the time). In order to make sure that the entire lake was purchased from the developer and not subject to being acquired by who knows who, several of my neighbors and I purchased portions of the lake which others refused to buy.

Now, 20 years later, the Florida drought has greatly diminished the size of the lake and some property owners who refused to buy their portion of the lake bottom now have NO WATERFRONT AT ALL (their property lines are hundreds of feet from the remaining lake)! Should the drought continue, these acres of lake bottom will eventually be farmed or grazed by cattle owned by those who had the foresight to purchase them.

The obstinate property owners "saved" $200 each and now have seen their property values decline by $20 - $30 THOUSAND EACH!

[Quilla]

Interesting story. There are two exclusive residential neighborhoods in my city where the rear of the houses face a large lake. The sub-division with the million dollar homes owns the lake and these residents can fish, swim, or whatever in the lake. Those who live in other development with half a million dollar homes can 'look but not touch'. Although I am sure this is perfectly legal, it seems as tacky as this pink fence.