The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: John Koligman who wrote (228752)	11/13/2009 6:37:46 PM
From: No Mo Mo	Read Replies (2) of 306849

The difference in the CT case, though, was that the City (New London) exercised eminent domain to move homeowners by condemning their houses and granting development rights to Pfizer. A case was filed that went to the Supreme Court. From the article: In 2005, the United States Supreme Court issued a decision called Kelo v. New London. It’s probably the most controversial court decision since Roe v. Wade. The difference was, this time almost everyone in America was on one side: everybody thought it was wrong. And that decision stemmed from a fight, a street fight, really, that took place in this neighborhood over a seven-year period between a small group of neighbors who fought against the city of New London, who wanted to take their neighborhood away. Getting the boot under eminent domain was a raw deal by any measure. If I remember, this was a precedent setting decision and almost anyone who paid attention was pissed. Now, to have Pfizer pull out so soon must make the whole saga feel Kafkaesque.

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