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This is how the free market should work. Having the government subsidize insurance in areas where destruction is likely is insane. People will still want to li
by monero-xmr 3y ago
This is how the free market should work. Having the government subsidize insurance in areas where destruction is likely is insane.
People will still want to live there. They will build stronger houses. In the Outer Banks of North Carolina they build houses on stilts with the expectation of the first floor flooding. Or they will build cheap houses with the expectation they get destroyed and have to rebuild every N years. This is fine.
The only reason stuff never gets fixed, is when someone bails them out. Stop bailing them out and everything will fix itself.
- jeo123 3y agoSuppose to. But USA isn't exactly practicising free market. Coming back from doing business in China, their market is truly competitive and free as long as you factor out some specific "Government guanxi thing" and "central government policy" (e.g. clamping down on private tuition and enrichment classes). Their EVs have no restriction like in USA where Tesla cannot sell in some region because of existing car dealership. Insurance too are consider "costless" to high risk group and must never deny pre-existing. All this extra government intervention in USA really not helping "free market". In USA the last 3 presidents, things get so anti-competitive and almost like centralized planning to some extend (solyndra) especially Bush-Obama time. The only unrestricted "free market" now is people. You see that Cali moving to Texas over the last decade. Expect similar things to happen to Florida as well in this decade.
- JKCalhoun 3y agoI would agree if in fact the insurance rates followed suit. In none of these stories is it clear that putting your house on stilts would waive the insurance increases.
- brianwawok 3y agoAren't stilts actually worse for a direct hurricane hit? They are great for flooding but terrible for hurricanes. Some kind of underground waterproof bunker is probably the safest, but not sure those are going to be real popular.
- JKCalhoun 3y ago(I meant that more as an example to follow OP's comment. I'm sure it would have to do with roofing material and other things structural in a hurricane zone.)
- matwood 3y agoNot sure about these increases, but livable structure below the 100 year flood line will trigger a huge insurance increase. Fully elevated homes are done that way because otherwise insurance costs would be prohibitive. Other building methods and materials (like HardiPlank) also cut insurance costs.
- Pet_Ant 3y agoDo you mean this? https://www.jameshardie.com/products/hardieplank-lap-siding https://www.jameshardie.com/products/hardieplank-lap-siding I don't see how this adds structural support.
- ensignavenger 3y agoProperly installed HardiePlank and similiar siding is substantialy more durable than vinyl siding. Brick, stone, and other siding can be even stronger.
- Pet_Ant 3y agoAh, okay, brick is the standard in my area so I was confused.
- matwood 3y agoIt's not structural but durability. It's effectively concrete siding and holds up well.
- adolph 3y agoI think the concept is to build houses resilient enough to avoid storm and flood insurance altogether.
- londons_explore 3y agoPlenty of communities have houses built on stilts for all kinds of reasons (10 foot snowdrifts is another reason)
- dwater 3y ago[flagged]
- sharemywin 3y agothe problem with large corp failures are it's not the execs that get left holding the bag. investors, consumers, employees, community do. to me the easiest way to fix that is don't let companies get to big to fail.