Saturday, December 18, 2004

California real estate

I spent some time in court this week telling a judge that nobody wants to live on particular 100 acre parcel of land in the middle of California for which bonds had been issued to fund the construction of streets and sewers. Thus, there is no money available to pay the bonds. Part of the problem is that this 100 acre parcel is across the road from a maximum security prison.

Today, I open the paper to find a story about whether it makes sense to renovate a 150 year old prison on some of the most valuable, waterfront land in California for the purpose of housing death row inmates.

I think you can figure out my point.