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Except in a fair market, if a developer managed to get all but a couple holdouts, those remaining would likely be able to command higher prices as they would ha
by shostack 10y ago
Except in a fair market, if a developer managed to get all but a couple holdouts, those remaining would likely be able to command higher prices as they would have leverage. ED robs then of the extra money they could have made, and it can be considerable.
- Spooky23 10y agoThere's an obvious defect in that approach. The incentive there is to delay the transaction as long as possible. Worst case scenario, the public project fails and you keep your stuff.
- shostack 10y agoIf you are someone being forced out by ED, that seems like a pretty positive outcome if you didn't want to move in the first place. Not all public projects are desired by all people, and it is far from a black and white issue.
- Spooky23 10y agoI didn't intend to portray it that way. It's certainly imperfect, especially when it's used for stadiums or other private purposes. But even then -- At least it's an open, public process and not some secretive thing that puts neighbor against neighbor.