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Paterson Could Derail Development

Submitted by WLMH, Mar 15, 2008 13:14

Eminent domain is a typical government market distortion. If the developers want the property, they should have to negotiate a price at which the buyer is willing to sell, even if that means cutting into "their" profit margin. If the best negotiate price makes the development not viable, that's an economic signal that it should not be built or that its scope or design should be altered. A property owner of any kind should be entitled to choose when to take a capital gain or loss and when to let an investment ride.

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Other reader comments on this article

Comment	By	Date
Eminent domain is a typical government market distortion. If the developers want the property, they should have to negotiate a...	WLMH	Mar 15, 2008 13:14
If he wants to do something about the abuse of eminent domain, I am cheering him on. [MORE]	paperpest	Mar 14, 2008 12:35
Those defending recent practices in New York are defending abuses that are far worse than typical eminent domain or even... [MORE]	Michael D. D. White	Mar 14, 2008 11:55
It seems that the recent abuse of eminent domain has derailed big projects in New York. Atlantic Yards, Willets Point... [MORE]	harrietPaterson Could Derail Development	Mar 14, 2008 10:10
Yes, it would be a shock for property-owning Americans to feel the security that they believed owning property would bring.... [MORE]	Make Nylon	Mar 14, 2008 06:16

Reader comment on:Paterson Could Derail Development

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