I think you're talking about something different though. Eminent domain (whether actual or constructive) is different. I'm not sure why those people are required to move.
I'm not that far off from you, el Barto. I grew up in a farming community, middle class, where my mom and my grandmother grew up. 3/2, like you said, probably bought for $40k back in '69. Now, my parents sold out in the 90's to move to FLA, but my house is still there. I can't afford it now, but it's still there. I used to walk through the woods behind my house, cross another street and was at a lake that I swam in my entire childhood. Three sides were undeveloped land. My favorite spot on the planet - a small grassy hill at the water's edge - was there, where I would read and listen to my little AM radio ("Dream... Weavah! I believe we can reach the morning li-height!"). Well, the lake is surrounded now by 5/4's with three car garages, my little spot is some kid's playscape now, but the town remains, and those that stayed - my friends parents, who lived up the street from me - have an asset they can pass on to their kids or grandkids. It's sad to me in the sense that my childhood is gone, but I've come to grips with that. The school system is one of the best in the state, my friends who have stayed in town are happy...
I can tell a similar story for the area I lived in in Georgia, and in Charlotte. Where there used to be a four way stop with a little (I mean little; maybe 200 sq. ft.) furniture work shop is now a 8-lane (2 in each direction) lighted intersection with a Publix.
I don't know; it sounds harsh, but I see Chris' point. I don't have a right to live there. What those towns were still exist. I wrestle with the idea that we should only move as fast as the slowest among us.