Re: Eminent domain is not my friend



Mike Stone wrote:
> "Danny Low" <danny.low@xxxxxxxxxxxxx> wrote in message
> news:l891c19b2lp5j69itjk4jvps6li42tq1mf@xxxxxxxxxx
> > On Fri, 24 Jun 2005 21:05:17 -0500, David Dyer-Bennet <dd-b@xxxxxxxx>
> > wrote:
> >
> > >That confuses me. If they in fact paid you the current market value
> > >of your unit, then you'd get quite a stack of money (after clearing
> > >the mortgage). And you should be able to use that as a downpayment on
> > >a comparable unit which, by the definition of "current market value",
> > >would cost the same amount, and hence leave the same amount to take
> > >out a mortgage for, which should have about the same payment (though
> > >mortgage rates change over time somewhat).
> >
> > The general flaw in this reasoning is no one is going to use eminent
> > domain on a neighborhood where the houses are among the most expensive
> > in the area. They are going to use it on the neighborhood with the
> > lowest value houses. This means that the owners cannot afford to move
> > anywhere else because everywhere else will be too expensive.
> >
>
> Exactly. It's another of these cases where a superficially even-handed law
> will in practice only ever work one way.
>
> Another example might be capital punishment. In theory, the death penalty
> could apply to any muderer, but in real life we all know that, whatever the
> law says, no millionaire is _ever_ going to walk down Death Row; only the
> poor.
>
> Still another case might be those literacy tests for votes which were once
> popular in the Old South. Again, these should theoretically have applied to
> Black and White alike, but practically - - "in your dreams mate". Everybody
> knew that in real life the test would only work angainst one race, and
> everybody knew _which_ one.
>
> Eminent Domain seems to fall into the same category. It's defenders can
> point to theoretical ways in which it could help ordinary folk rather than
> just certain fat cat developers, but in the real world we all know better -
> or should do.

Actually, while I disagree with the majority's decision in Kelo, I
think it was in some ways the more liberal justices' way of making
eminent domain more egalitarian; now the government could take
everyone's houses, not just slum dwellers'.

.



Relevant Pages

  • Re: WCML debacle(s) and future electrification projects.
    ... Anyone can sell a property. ... precisely the value of the outstanding finance. ... But if I simply convert my mortgage ... and treat houses as objects that have a specified ...
    (uk.railway)
  • Re: Grrrr!
    ... Don't care how desperate a lender is, if the mortgage is more than ... Bankstown is half an hour from Wollongong? ... The problem as far as I can see is that houses aren't selling. ... flats around Campsie and the prices on those are dropping as they are ...
    (alt.sysadmin.recovery)
  • Re: OT: AARP
    ... There are houses that are priced from half a million down to $25,000. ... I understand the reasoning behind buying a house versus renting, but if one cannot afford to buy, one rents until the money is saved up for a sizeable down payment so the mortgage and interest don't keep them from doing the truly important things in life. ... The tone of her posts suggests that anything she feels is unnecessary spending IS unnecessary spending, and I think that is where hackles are getting raised. ...
    (sci.med.transcription)
  • Re: Taxpayers to Pay for McCain Mortgage Bailout
    ... out the greedy banks and the irresponsible homeowners who took out crazy ... loans on houses that were too big for them. ... too-expensive mortgage and the cheaper one provided by the government. ...
    (alt.vacation.las-vegas)
  • Re: O-town - Jr is killed in same spot Dad was killed in June
    ... there'll be a lot of houses ... > quarters of a mill down to 500 or 600, where the mortgage becomes barely ... > chance to catch up with the price escalator through wage gains. ... the home buying market, and then refinance after a year or two, hopefully wh ...
    (alt.true-crime)

Loading