Sure we have private property in the US

However, if your local government decides that your property will generate more tax revenues if it's removed from your ownership and transferred to someone who will build a hotel, a casino or some other project, well then, you're SOL, my friend.

The US Supreme Court says this is fine by them.

The consequences of this decision will be great, and I further predict that they will occur quickly. If you own property in an area that is ripe for confiscation redevelopment, you may want to consider your exit strategy, before you are dispossessed and "justly compensated".

Another of the chains that has traditionally bound the beast of government has been broken. We are going to find out that while government may be a useful servant, it will indeed be a fearsome master.