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Here is where you are dead wrong.
Posted on: January 4, 2019 at 17:19:41 CT
TigerMatt STL
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https://www.johnlocke.org/update/eminent-domain-when-the-market-price-isnt-a-fair-price/
But here’s the problem. In such cases, the property was not for sale in the open market. When the state approaches the landowner to inform him that his land will be taken by eminent domain, presumably, there is no “for sale” sign on the front lawn, meaning that at the market price the owner has not been willing to sell. In other words, the market price has not been high enough to induce the owner to voluntarily put his property on the market. This means that the value the owner places on the property is higher than the value potential buyers of the land places on it. By definition, then, the “market price” to the person whose property is being taken by the state is an unfair price. When any price is thrust upon an otherwise unwilling seller it is not and cannot be considered a fair price.
But here’s the problem. In such cases, the property was not for sale in the open market. When the state approaches the landowner to inform him that his land will be taken by eminent domain, presumably, there is no “for sale” sign on the front lawn, meaning that at the market price the owner has not been willing to sell. In other words, the market price has not been high enough to induce the owner to voluntarily put his property on the market. This means that the value the owner places on the property is higher than the value potential buyers of the land places on it. By definition, then, the “market price” to the person whose property is being taken by the state is an unfair price. When any price is thrust upon an otherwise unwilling seller it is not and cannot be considered a fair price.
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Here is where you are dead wrong. - TigerMatt STL - 1/4 17:19:41