[Chaparral]

The City of Los Angeles took the property from Horowitz via eminent domain back in the early 90s in ordrer to build a trash incinerator. The locals were able to block the incinerator on the grounds of env't justice. Horowitz sued and got the property back at a time when property values were still considerably lower than they are today. Horowitz agreed to let the "farmers" stay for a short while. The farmers got the idea or were given the idea that they were entitled to the place by outside agitators. None of those bleeding heart lefty do-gooders paid an ounce of:

1) property tax

2) liability insurance

Some of the agitators (there were several groups taking up this cause and considerable bad blood was generated between competing activist groups) circulated a flyer accusing Horowitz and City Hall of being part of a "Jewish Conspiracy" and that apparently, really pissed Horowitz off to the point where the money was no longer the issue. One might say that all those anarchists and others who always demand their RESPECT had best practice what they preach.

Horowitz has stated he wouldn't sell for 50 million purely as a matter of principle. If someone called me a halfbreed, "Uncle Tomas", spic, wetback, whitey or whatever in a negative way, it wouldn't help their cause regardless of its merits. I can't fault the man for this.

Most of the "farmers" have since moved to a new plot of land about 5 miles to the south and literally dozens of other vacant parcels within the city are now being considered for public gardens as a result of this debacle. The remaining protestors include marxists, anarchists and other ummm, folks who may be weeded out of the gene pool if TS should HTF.

There are several sides to this story. I'm afraid I have to side with the developer on this one. I would have favored eminent domain to take the parcel back.

Warehouse vacancies in LA are in the 1 to 3% range, which is incredibly high. The local manufacturing and warehousing is booming.

We might expect this to go away with the first oil shocks. It is not unreasonable to expect someone will be holding the bag on an empty warehouse shortly after it is completed.

Once the oil shocks hammer commercial and residental property in the city, there should be an increasing number of vacant and abandoned parcels just as there was in the last real estate recession when I got my start in the business. You couldn't give the land away back in the mid '90s. When we get to this point again, I would want to look at this as an opportunity.

For those of us who currently own or will someday own arable land this episode also opens up the question of how to deal with squatters after TSHTF should that ever happen.

[vision-master]

Holmes, I dislike your putting people into boxes. Grow up.

[holmes]

Thank u for that info, Chap.
SH Already HTF.
LOL.
The system is already crumbling.
Prison system increasing exponentially.
welfare state increasing.
immigration system crushed.
the list goes on.
hehe.
Its not if or when its now.
booya!

[holmes]

$this->bbcode_second_pass_quote('vision-master', 'H')olmes, I dislike your putting people into boxes. Grow up.

[Dreamtwister]

Here are some phrases for future squatters of all varieties:

"permissive easement"
"estoppel by acquiescence"

Learn them, live them, love them.