The FAA would certainly like everyone to believe so. Some would disagree.
"The Court divides the airspace over the
United States into two zones. The upper zone is called navigable airspace.
Congress has defined it, "as airspace above minimum safe altitudes
of flight prescribed by the Civil Aeronautics Authority...,,22
In this upper zone the rights of the federal government are so complete
that this navigable airspace, according to the Court's opinion, is
"within the public domain."
In Swetland v. Curtiss Airports Corp's, the Court of Appeals for the 6th Circuit stated:
"He (the landowner) has a dominant right of occupancy for
purposes incident to his use and enjoyment of the surface....
We can not fix a definite and unvarying height below which
the surface owner may reasonably expect to occupy the airspace
for himself. That height is to be determined upon the
particular facts in each case."
In United States v.Causby, the military was granted an easement by the government, which met the military's need for transitioning the airspace over the Causby property. In exchange for the easement, Causby was granted $2,000, which the Supreme Court had found to be the value of the easement, as well as the chickens rendered lifeless by the overflights.
If the FAA would like to control the airspace over my head, then I would be more than happy to grant them an easement; I also expect to be granted the value of the easement: the retail value of the radio control model aircraft & related equipment, which I may no longer enjoy unencumbered by the FAA's rulings.