The Houston situation is as much the fault of regulation as its the fault of not having some. Houston itself was only built up to the degree it was on the back

The Houston situation is as much the fault of regulation as its the fault of not having some. Houston itself was only built up to the degree it was on the backs of federally subsidized flood insurance and huge amounts of public money spent to build the dams around it. If developers had to eat the real cost of building in a flood zone, many fewer would have done so.