Tuesday, July 03, 2012

The US is basically - lawless.

I saw that Mammoth Lakes "went out" last night. (filed for bankruptcy) Which means, Half Moon Bay can't be far behind. These two cities suffer from the same affliction. The city let developers buy land, and then refused to let them build on the property for the purposes they bought the land for. Therefore running up tons in legal costs fighting the land developers to stop them from doing what they told the cities they were going to do in the first place. Taking up their entire city budgets by twice.

It's been a while, but I think Half Moon Bays' problem was some exotic screamapillar that lived on the land in question. Honestly it doesn't matter. Because a contract is not a contract these days, and everyone wonders why there is no trust in the market. I mean, you can let people buy land, refuse to let them build on it, and then say screw you by defaulting. That doesn't make anyone nervous. And why would it?

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