Private property rights are among the most important rights enjoyed by Americans. They give us financial security and they help protect our personal investments. Precious as they are, our property rights are not absolute—they come with responsibilities. Communities routinely make investments and create land use policies that affect property rights and changes in property values for the greater good. Regulating teardowns is no different because they impact our quality of life and the property rights and investments of the people who have to live with the results. (Source:

Read more about how the concept of property rights has changed over time in this Introduction to Property Rights: A Historical Perspective from the University of Illinois Extension.