Now that the reservoirs have done what they were built to do, and houses built in those reservoirs have flooded, insurers and homeowners are reading through the fine print and trying to sort out who knew what and when they knew it. Some are suing the government for flooding their houses by letting the water back up.
That government action — or inaction, if you prefer — artificially increased the value of the land. The developers were able to price reservoir land like the high ground nearby.
Analysis: It was a "taking," but who got taken?
No comments:
Post a Comment