Correct. Think of low-lying coastal property as a disposable luxury good that we choose to subsidize, like large cars or air travel. In a few wealthy regions l

Correct. Think of low-lying coastal property as a disposable luxury good that we choose to subsidize, like large cars or air travel. In a few wealthy regions like SF and NY I would guess that Dutch-style defenses will be economically feasible to protect home values. In other places my guess is that property values will crash when the federal government eventually admits it cannot afford to keep NFIP solvent indefinitely. Though even in that case I wouldn't be surprised if wealthy coastal landowners still manage to finagle a taxpayer bailout out of it.