A bad idea from Richmond jumps the Bay. I did a public records request on the issue and published my findings here: Expect[ed] Loss: San Francisco Mortgage Eminent Domain Plan - A Look at the Target Properties http://expectedloss.blogspot.com/2014/10/san-francisco-mortgage-eminent-domain.html
http://expectedloss.blogspot.com/2014/10/san-francisco-mortgage-eminent-domain.html
Expect[ed] Loss: San Francisco Mortgage Emine... http://expectedloss.blogspot.com/2014/10/san-francisco-mortgage-eminent-domain.html On October 28, San Francisco Supervisors will consider forming a Homeownership Stabilization Authority with the city of Richmond.
View on expectedloss.blogspot... http://expectedloss.blogspot.com/2014/10/san-francisco-mortgage-eminent-domain.html
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If you're unaware of this issue and interested in getting background, here is a good place to start: SF considers plan to use eminent domain to lower mortgages http://www.sfexaminer.com/sanfrancisco/sf-considers-plan-to-use-eminent-domain-to-lower-mortgages/Content?oid=2907967
http://www.sfexaminer.com/sanfrancisco/sf-considers-plan-to-use-eminent-domain-to-lower-mortgages/Content?oid=2907967
SF considers plan to use eminent domain to lower m... http://www.sfexaminer.com/sanfrancisco/sf-considers-plan-to-use-eminent-domain-to-lower-mortgages/Content?oid=2907967 San Francisco may become the first city to partner with nearby Richmond on a groundbreaking program that would use eminent domain to lower home mortga...
View on www.sfexaminer.com http://www.sfexaminer.com/sanfrancisco/sf-considers-plan-to-use-eminent-domain-to-lower-mortgages/Content?oid=2907967
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Hi Marc,
Fantastic research. Thank you for doing this. This subject should be of great concern, but apparently it is not. Either because life is difficult enough without getting involved in politics, or because there is an element of greed -- hoping any government program will benefit me -- that trumps all reason.
When Campos over a year ago introduced a resolution calling for the expansion of eminent domain, I called for action on the part of Libertarians by posting on our lists, Facebook, etc. (article on www.lpsf.org News "Campos Explores Expansion of Eminent Domain"). Nothing happened. Several months ago, when Avalos introduced a resolution, again I called for letters to the Supervisors, LET's, etc. Also I sent a list of questions to all the Supervisors and the Mayor listing some of the concerns you expressed (article on www.lpsf.org News, "Now it's Supervisor Avalos Pushing for Eminent Domain"). Nothing happened, and as I expected, none of the Supervisors or Mayor responded. Avalos said then he was going to reintroduce this in October, and he did. At this point, all we will have are the useless "public meetings," where bureaucrats sit there going "huhumm, huhumm," then go ahead and do precisely as they intended to do.
Obviously, this legislation has absolutely nothing to do with the economic facts in the case. However, due to the absence of sufficient opposition, here it is. After the legislation becomes established, unless lenders are bought off in some manner, I expect to see them challenge the legislation in court. At least that is what the group -- Wells Fargo et all -- that sued "prematurely" indicated they would do.
Thanks again for such a scholarly article, Marc.
Marcy