Rich people can afford to insure and rebuild on disaster-prone, but otherwise highly desirable, property. I lived near a barrier island that would get hit with

Rich people can afford to insure and rebuild on disaster-prone, but otherwise highly desirable, property. I lived near a barrier island that would get hit with hurricanes each season, and every 5-10 years a storm would devastate it. Despite that, property owners would rebuild their several million dollar vacation homes exactly where they last stood, but raised just a little higher than the last time. I don't blame them, it's an amazing spot in the summer.