C2, the climate is certainly good and I too would far prefer New Orleans to the icy wastes of Cleveland and points north.
As you say, I suppose there will be a LOT of reinvestment due to profits to be made and people will carry some risk to live handy to the income opportunities those investments generate.
But I bet property below sea level is reduced in value. A tsunami roaring over a levee would make even more mess.
I note that Xena [aka Lucy Lawless] was there making a movie and had to flee inland along with a million others. It obviously holds great attraction.
I don't have insurance because I would have to pay for the crazies who live below sea level, at the top of cliffs, on earthquake fault lines, in volcanoes, smoking cigarettes in bed while drunk and unconscious, on the curve of a river [near Ottawa I saw ice floes which had drifted down river during the thaw and failing to take a corner had slid over each other and pushed a row of houses over], on flood plains, etc etc etc. Not to mention defective drivers, dishonest claimants, insurance company costs and profits, government taxes on those profits and salaries of the employees, wasteful repairs [padded with extra this that and the other], other dishonesty and general imposts costs fees and charges.
Mqurice |
