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Oh, and that isn't a hypothetical example. Thousands of federally insured houses have been rebuild 10 times or more: https://www.nrdc.org/experts/rob-moore/floo
by wpietri 4y ago
Oh, and that isn't a hypothetical example. Thousands of federally insured houses have been rebuild 10 times or more: https://www.nrdc.org/experts/rob-moore/flood-rebuild-repeat-need-flood-insurance-reforms https://www.nrdc.org/experts/rob-moore/flood-rebuild-repeat-...
- bombcar 4y agoI’ve always been of the idea of the feds are insuring something, they should have a buyout option (something similar to what FDIC just did). FDIC doesn’t wait for the bank to call them, they monitor and step in.
- wpietri 4y agoIndeed! And I believe that for floods, the FEMA buyout program is something like that: https://www.fema.gov/case-study/flood-buyout-eases-homeowners https://www.fema.gov/case-study/flood-buyout-eases-homeowner...