« So, where's the $324.8 million more for the arena going to come from? | Main | Who Wouldn’t Want a Third Baseball Team in Town? »

January 1, 2010

As China pursues development, "nail houses" are common, as property owners seek fair compensation

Atlantic Yards Report

If you think the Atlantic Yards condemnation battle is bitter, consider the situation in China, as the New York Times reports, in an article headlined Chinese Businesses Resist Eviction by Developers:

Chinese newspapers are filled with stories of battles involving so-called nail houses, the properties whose owners and occupants are like deeply embedded spikes that refuse to give way to redevelopment juggernauts. As an unceasing real-estate boom has swept the nation, much of it orchestrated by the local governments that benefit from soaring land values, property owners and occupants often protest unfair compensation.

A standoff ensues. Shady men are dispatched. Goliath rarely loses.

In the case chronicled by the Times, David did win--a restaurant was evicted, but its owners got the full payment they sought.


Posted by eric at January 1, 2010 10:51 AM