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I can't imagine flood insurance is very cheap in these locations and I don't think this is an imminent domain type situation where the government would buy hous
by bostonsre 5y ago
I can't imagine flood insurance is very cheap in these locations and I don't think this is an imminent domain type situation where the government would buy houses. At some point, people will be ruined financially and won't be able to rebuild.
Other wealthier places may be able to use municipal bonds to fight sea level rise. In the valley in Foster City, the choice was between pricey flood insurance and a cheaper municipal bond to construct a robust levee and the latter was chosen. The city is small enough and the residents were wealthy enough to do it.
I'm kind of curious if anyone will attempt to damn up or construct locks under the golden gate bridge. I think the valley could be wealthy enough to do it.
- beerandt 5y agoThe federal government actually does have block grant programs to buy out homeowners, or will pay to raise their house, if the cost is cheaper than building a levee or similar flood protection.
- bostonsre 5y agoInteresting.. That kind of sounds like it would be impossibly expensive for the government as the sea level rises.
- beerandt 5y agoDepends- at some point it usually becomes cheaper to provide flood protection, if enough houses are close to one another. Plus those grants are kinda complex to navigate, and you can't do it as an individual. It has to be part of a local communities overall flood mitigation / risk-reduction plan.