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Politics : Formerly About Advanced Micro Devices
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To: TimF who wrote (325747)2/13/2007 12:32:50 AM
From: combjelly  Read Replies (1) of 1576473
 
"The houses get constructed on sites that are prone to flooding at least partially because the government distorts the incentives by providing subsidized insurance and/or bailouts/disaster assistance."

That is factually incorrect. Developers build houses in areas they think are attractive to buyers. Only a small minority of buyers go to the Corps of Engineers and actually look at flood plain maps. And there are areas where it isn't possible to get a loan because it you can't get flood insurance. Despite that, especially with out of staters who aren't aware of the potential for flooding or understand exactly why riverside land is sooo cheap, they build on things like rivers or in erosion gullys. And they even build in estuaries, despite all the wordage in the documents they have to sign about what they can and cannot do with the land.

Buyers who have fallen in love don't care. Fortunately for me, my wife experienced a couple of "100 year floods" before we bought property. She didn't understand my hostility towards building on a floodplain. We had a huge fight over the area we chose to build. She liked the area that had had a high grade and bordered on a creek. I insisted on the lot that was the high point in the subdivision. When we had a 100 year flood in the second time in 5 years, she saw what I was talking about...
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