The only explanation I can think of, myself, is that they are concerned that using eminent domain would “hurt market confidence” and decrease property prices.
My answer to that would be: Good. Land is reliably overpriced anyway, the land market is not efficient. I’d then refresh my memory of Inadequate Equilibria’s argument to that effect (though it may have been specific to houses) and see if it cited anyone.
The only explanation I can think of, myself, is that they are concerned that using eminent domain would “hurt market confidence” and decrease property prices.
My answer to that would be: Good. Land is reliably overpriced anyway, the land market is not efficient. I’d then refresh my memory of Inadequate Equilibria’s argument to that effect (though it may have been specific to houses) and see if it cited anyone.