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It's a hard reality to face. Houses are supposed to not be seen as investments, but realistically are. What happens when your 500k investment is unsellable ov
by axaxs 7y ago
It's a hard reality to face. Houses are supposed to not be seen as investments, but realistically are. What happens when your 500k investment is unsellable overnight? On one hand, logic tells us to help displaced folks. On the other, it's that they should have seen this coming. And the third, that these people can realistically afford to take the loss.
As an aside, I drove through Daytona Beach last week and... there was absolutely no beach to be seen. The water was up past the bottom stairs of the seawall. While ignorant of if this was somewhat normal, it definitely made me stop and think...
- toomuchtodo 7y agoI think it's about finding middle ground. Without government, your home's value might rapidly race to zero. Without climate change, you'd realize the full value of the property. Therefore, with FEMA funding buyout of properties that are likely to be impacted by climate change [1], owners shouldn't be getting wealthy from these transactions, but they should have the ability to relocate to a comparable quality of life. Governance and oversight is crucial. Be transparent about the properties you're buying and demoing, and prevent future building on those retired properties (developers can be a persuasive [$$$] bunch). [1] https://www.fema.gov/faq-details/Buy-out-of-flooded-property-1370032125293 https://www.fema.gov/faq-details/Buy-out-of-flooded-property...