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Personal finance observation, musing and decisions in a journey toward financial independence by 36 with at least $1 million.

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Homes May Be 'Taken' for Private Projects





This is the only Supreme Court ruling I have problem with for a long time.

From MSNBC:

The Supreme Court on Thursday ruled that local governments may seize peoples homes and businesses even against their will for private economic development.

It was a decision fraught with huge implications for a country with many areas, particularly the rapidly growing urban and suburban areas, facing countervailing pressures of development and property ownership rights.

As a result, cities now have wide power to bulldoze residences for projects such as shopping malls and hotel complexes in order to generate tax revenue.

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