View Poll Results: Eminent Domain: Is It a Good Idea or Not/

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  • Yes, Good Idea.

    1 7.69%
  • No, Bad Idea.

    11 84.62%
  • Other, please explain.

    1 7.69%
  • Too Complicated?

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Thread: Eminent Domain From an Altered Perspective and Is It a Good Idea or Not?

  1. #1
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    Eminent Domain From an Altered Perspective and Is It a Good Idea or Not?

    Richmond’s rules: Why one California town is keeping Wall Street up at night

    Richmond’s rules: Why one California town is keeping Wall Street up at night
    "For communities across the land -- North Las Vegas, San Bernardino County, Calif., Chicago -- where too many are stuck with house payments beyond what they can afford, this was the nuclear option. While those cities backed away, Richmond hit the
    button.
    The mechanism? Eminent domain, the power of the government to seize private property for public use, which has not typically been used to help poor neighborhoods. After five years of the federal government gently nudging banks to forgive homeowners debt they took on in better days, cities have found a legal weapon the financial industry truly fears.
    The stability of those housing markets, and the banks that profit from it, could depend on the fallout.
    The strategy's complexity has left stakeholders to lean on dogfight rhetoric: From the community activists, "Save homes, stop foreclosures." And the Realtors, "Stop investor greed." And the lawyers for the investors, "Prevent this unconstitutional
    investment scheme." "
    Richmond’s rules: Why one California town is keeping Wall Street up at night

    Is this fair?

    Is this different than eminent domain used against homewoners?

    If bankers had not been bailed out, would home prices be much lower?

    Are we trying to protect bankers again?
    Last edited by DaveFagan; 10-06-13 at 12:00 PM. Reason: formattiong

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    Re: Eminent Domain From an Altered Perspective and Is It a Good Idea or Not?

    As the Kelo decision demonstrated, eminent domain (ED) has been taken well beyond anything reasonable. I can accept ED if it's for something such as a public road. I cannot accept ED for something such as private development. This carries the absurdities even further.
    If you claim sexual harassment to be wrong, yet you defend anyone on your side for any reason,
    then you are a hypocrite and everything you say on the matter is just babble.

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    Re: Eminent Domain From an Altered Perspective and Is It a Good Idea or Not?

    Eminent Domain is bad, always has been bad, and always will be bad. Period.

  4. #4
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    Re: Eminent Domain From an Altered Perspective and Is It a Good Idea or Not?

    I voted good idea because if the Gov't had not bailed out the banks, the real estate values would have dropped significantly lower. Many more mortgages would have been even more underwater and there would have been more foreclosures and, as distressing as that might have been, the banks would have been the largest losers. We bailed them out. The banks mortgage tranches were faulty and the banks deserved fair deserts. That didn't happen because the gov't used taxpayer funds to mitigate those losses. I am for the homeowner because this is a "bogus" valuation of his asset to sustain minimum Reserve requirements by the banks.

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    Re: Eminent Domain From an Altered Perspective and Is It a Good Idea or Not?

    I am on the side of restricting eminent domain to its narrowest practice and definition.

  6. #6
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    Re: Eminent Domain From an Altered Perspective and Is It a Good Idea or Not?

    No, never, absolutely not and under no circumstances. Property owners are the property owners, not the government. Also, the price you get for eminent domain is way lower than what you value the home for, otherwise you would have yourself sold it at market value long ago. Property owners get screwed twice under the deal.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

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    Re: Eminent Domain From an Altered Perspective and Is It a Good Idea or Not?

    Quote Originally Posted by phattonez View Post
    No, never, absolutely not and under no circumstances. Property owners are the property owners, not the government. Also, the price you get for eminent domain is way lower than what you value the home for, otherwise you would have yourself sold it at market value long ago. Property owners get screwed twice under the deal.
    No. The foreclosing agency in this matter would negotiate back to homeowners at it's actual value after eminent domain and that would reduce their mortgage burden. Also reflecting fair market value. That is the way I read it.

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    Re: Eminent Domain From an Altered Perspective and Is It a Good Idea or Not?

    Quote Originally Posted by DaveFagan View Post
    No. The foreclosing agency in this matter would negotiate back to homeowners at it's actual value after eminent domain and that would reduce their mortgage burden. Also reflecting fair market value. That is the way I read it.
    You're missing the point I made about subjective value. If the homeowners could have sold it for a price they liked they would have. The homeowners value the home more than its market value, or else they would sell it.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

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    Re: Eminent Domain From an Altered Perspective and Is It a Good Idea or Not?

    Quote Originally Posted by DaveFagan View Post
    I voted good idea because if the Gov't had not bailed out the banks, the real estate values would have dropped significantly lower. Many more mortgages would have been even more underwater and there would have been more foreclosures and, as distressing as that might have been, the banks would have been the largest losers. We bailed them out. The banks mortgage tranches were faulty and the banks deserved fair deserts. That didn't happen because the gov't used taxpayer funds to mitigate those losses. I am for the homeowner because this is a "bogus" valuation of his asset to sustain minimum Reserve requirements by the banks.
    It sounds all noble and fair and "stick it to the big bad evil banks" in a 'tit-for-tat' kind of way, but it's really not. The way ED has expanded from its original intent and purpose is bad enough, but this type of "creativity" essentially throws everything that we claim to hold important out the window.
    If you claim sexual harassment to be wrong, yet you defend anyone on your side for any reason,
    then you are a hypocrite and everything you say on the matter is just babble.

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    Re: Eminent Domain From an Altered Perspective and Is It a Good Idea or Not?

    i can support eminent domain for roads and infrastructure, though i think the appraiser should be chosen by the property owner, and the government should have to pay slightly more than market value. i also support government involvement in blighted areas which have been largely abandoned or ignored by owners; with ownership comes responsibility. however, kicking people out of their homes because a developer says he or she can generate more tax revenue is something that i cannot support. Kelo was a terrible decision.

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