American Dream

The city of New London, which won the infamous Supreme Court decision in Kelo vs. New London, has announced that plans to pay the owners of the homes it wants to take by eminent domain what the homes were worth in 2000 -- when it first condemned the houses. On top of that, it plans to charge all of the homeowners "back rent" for their use of the property since 2000, which in at least one case supposedly amounts to $300,000.

Bottom line: because houses (and rents) have appreciated so much since 2000, some homeowners may end up getting little or nothing for their homes. This is sure to provoke more outcries against eminent domain.