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Perhaps you're not yet familiar with the Urban "renewal" effects on ethnic families and the destruction of generational wealth transfer on those same families.
by anjel 3y ago
Perhaps you're not yet familiar with the Urban "renewal" effects on ethnic families and the destruction of generational wealth transfer on those same families. Emminent Domain>Apropriate compensation doesn't work as you imply.
Tl;dr They were kicked out of the gentry by having to accept below market compensation for the homes they rightfully bought and owned which consigned them to renting thereafter.
[1]https://abcnews.go.com/US/black-residents-discuss-lasting-injustices-urban-renewal-redlining/story?id=73083737 https://abcnews.go.com/US/black-residents-discuss-lasting-in...
[lots more]https://duckduckgo.com/?t=ffab&q=urban+renewal+eminent+domain+black+families+generational&atb=v383-1&ia=web https://duckduckgo.com/?t=ffab&q=urban+renewal+eminent+domai...
- ethbr1 3y agoIt happened, but primarily in the 1950s-1980s. Thankfully, racist use of eminent domain has drastically decreased since. Now you have more garden-variety free market development corruption, where "We buy ugly houses" companies transfer ownership en mass to enable gentrification or capture value from unannounced city infrastructure improvements. Unfortunately, the obvious solution (strengthening property rights) effects its own drag on city improvement by empowering one-asshole-with-the-last-necessary-parcel.