[Info-vax] Completely OT: Frank Lloyd Wright

[glen herrmannsfeldt]

David Froble <davef at tsoft-inc.com> wrote:

(snip)

> Bill makes a very good and valid argument, and so you change the 
> subject.  The subject was real estate property.  Buildings.

> I have no objection to some things worth being preserved, being 
> preserved.  As for what's worth being preserved, good question, huh?

> What I'd object to is someone who has put his own money into something 
> losing that investment.  If someone who has bought some property isn't 
> allowed to do what he intended, that's exactly what happens, he loses 
> his money.

I agree, except ...

> So, if some entity wants to declare some property as special and to be 
> controlled, that entity should be prepared to put their money where 
> their mouth is.  Even if their declaration raised the property value, 
> they should have to come up with the current property value, and 
> compensate the owner for any inconvenience.

That is the problem. Well, consider the emminent domain case, which
is similar but not exactly the same. In that case, there is an 
official process for coming up with a fair value. Usually higher than
the value might have been before, but you can't arbitrarily raise
the price. 

Say the government was building a freeway and had made deals for
all the houses except yours. It would be a huge expense, reselling
some already bought properties, and make a funny curve in the
freeway to go around one house. Doing that might cost 10 or
100 times the value your house would otherwise have, but it
really isn't fair to ask that.

> Sure, go ahead, do it, but be prepared to "pay the price" for your 
> actions.  This is something too many people try to avoid.

Say that someone knows that there is interest in a historical
house, but that hasn't been made public. He then buys the house,
hoping to make a huge profit when the deal goes through.

To me, that is pretty much the same as insider trading
in stocks. Using information that one shouldn't otherwise
have, and hoping to profit on that information.

Fair price, but not extortion.

-- glen