Government Takes Land by Eminent Domain. Builds Nothing. Now re-sells Homes.

In the 1950s and 1960s, a transportation authority in California gobbled up, with compensation, homes to make room for a freeway, and maybe some rail. High hopes. Big dreams of efficient transportation were for naught. 

Nothing was built. But since the mid 1900s, the state has leased the homes to residents, who now hope to buy their abode. 

Here’s the math, the homes were bought for $20,000ish, market price for nearby comparable homes now is $800,000.

LA Times