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paying what someone 'originally paid' for it? That won't fly - someone may have bought a valuable asset 50 years ago that is now worth 100X what they paid for
by ejb999 3y ago
paying what someone 'originally paid' for it?
That won't fly - someone may have bought a valuable asset 50 years ago that is now worth 100X what they paid for it - only giving them what they paid for it can hardly be called 'just compensation' and I suspect most all courts would agree.
- anonymouskimmer 3y agoI'm talking about speculators engaged in predatory flipping (and was also assuming adjusting for inflation). Water rights speculation has apparently only been going on in Arizona for around 30 years. While some of this speculation may be net beneficial (use of recharge areas to recharge ground water), others just seem speculative and aimed at making a premium when municipalities are eventually forced to buy.