Marie Antoinette commented on the blog post While Eminent Domain Proposal Discussed, LA Tries to Make Foreclosure Cost-Prohibitive
Good piece. Eminent Domain is a dangerous weapon and the proposed alliance between private equity and local government is a non-starter. But used to address the shadow inventory that every locality has at least some of–that’s a different story. Even if the property is being mowed and the taxes are being paid (which is not usually the case) towns could argue that the community is being harmed by housing being left empty for months and years at a time when people desperately want to move into it. The banks damaged communities all the way up the bubble and are damaging them all the way down. Enough is enough.
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