2012-06-26wallstreetexaminer.com

Not sure we agree, but Lee's analysis is always worth ingesting -- ``Mass condemnations take years, they have enormous costs, and are fraught with risk and legal challenges from property owners. I have seen condemnations for large takings last as long as 10-12 years from the initial proposal to completion of the taking. Markets can go through an entire cycle by the time they are complete, and municipalities invariably grossly overpay when they finally are able to acquire all the properties. It is often  far, far more than when they first made a public announcement of the idea.''


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