The salient fact I took from Mr. Silverfarb’s article "Bank takes over luxury property,” June 23, Daily Journal was the four-year planning process. Real estate developers take huge gambles on coming to market at the most propitious time in a given real estate cycle. The amount of time it takes to get approvals for a project such as this or even simple single-family homes has increased over the years as anti-development forces exploit the system to either thwart development or extort concessions from property owners. Municipal bureaucracies are complicit in this too as planning commissions and/or city councils think nothing of putting off an applicant from one month to another. This project should have easily come to market three years earlier.
Instead, a good man is wiped out not just by the vagaries of the economy (which he understood), but by a collection of people with absolutely no skin in the game and with the capacity to do economic harm. The bedrock of the American political social experiment is private property and the rights attendant thereto. As these rights are increasingly infringed upon, the republic is at risk.
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Keep the discussion civilized. Absolutely NO personal attacks or insults directed toward writers, nor others who make comments.
Keep it clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
Don't threaten. Threats of harming another person will not be tolerated.
Be truthful. Don't knowingly lie about anyone or anything.
Be proactive. Use the 'Report' link on each comment to let us know of abusive posts.
PLEASE TURN OFF YOUR CAPS LOCK.
Anyone violating these rules will be issued a warning. After the warning, comment privileges can be revoked.