Saturday, September 17, 2005

Remember Kelo?

A few months ago, when the Supreme Court decided that cities and states can seize private property under eminent doman laws, Sam and I had a lively debate here about the issue. I've always been reassured that such seizures, which are unpopular and painful for people, would be rare.

But will Kelo have repercussions New Orleans and The Gulf Coast? The whole project will focus on economic development, after all. When the government seizes private property, it pays the owner a going market rate. But after Katrina, rates in the region can't exactly be at their high. Certainly, after we see results from rebuilding, the rates will be higher than they are now. So I'm wondering, if property is seized now, will those who lose it have enough money to buy new property when people start to return to the region? It seems like a potential forced "sell low - buy high" scenario to me.

Not that this is happening. I just think that it could happen.

3 Comments:

At 7:38 PM , Blogger J. A. Gillmartin said...

You are linked at The SHEEP'S CRIB

 
At 10:10 PM , Blogger Mike M. said...

Thanks for the link! The Sheep's Crib, btw, is a proudly conservative blog run by a well-spoken southern baptist pastor. Thosethingswesay is audaciously liberal and run by two freaks. See, folks? We can find some common ground.

 
At 12:00 AM , Anonymous Anonymous said...

THAT is so true...

well-meaning people of any description can come together to see what we can make of our shared experience... our common ground is our good intentions

 

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