EL KELO GRANDE---cont.
Another KELO seller gets the news and sells house to low bidder...
So New London really kicks ass now:
As if things weren't bad enough for Suzette Kelo after the Supreme Court ruled that her city government could take her house and give it to a corporation, we now learn that she's going to be abused on compensation as well.How's that for a government "fuck you?"
Since the city of New London has technically owned the property since they invoked eminent domain in 2000, they will only pay Ms. Kelo based on the 2000 value of the property.
Given what has happened to real estate prices in that time, a conservative guess would be that the fair price is now 50% higher, but it could easily be 100% or more. (I don't know enough about New London real estate to give a more accurate guess.)
And, the city's lawyers also claim that Ms. Kelo and her neighbors have been living in a house owned by the city for several years and that the city might hold them liable for rent money!