Libertarian Party of San Francisco News

Either the designers of the drastic regional upheaval, commonly known as “Plan Bay Area” or “One Bay Area,” thought they could work around the fact that for every action there is an equal and opposite reaction, of they did not connect this physical law with human behavior, as most common-sense folks do.

San Francisco Supervisor David Campos introduced a resolution on September 9th, urging the Board of Supervisors to explore the feasibility of the City using eminent domain to seize underwater properties from lenders. Ostensibly, such a plan is designed to keep homeowners in their underwater homes when lenders do not readily cooperate in reducing mortgage principal to match what borrowers can pay. In reality, this resolution fits right in with the City’s relentless march toward “public” (as opposed to private) control of real property, by totally distorting the capital market via (1) promotion of home ownership regardless of borrowers ability to pay, (2) rent control, (3) passage of legislation such as the Housing Trust.