4 ms·
At some point the rest of us have to stop paying for people's stupid behavior. US taxpayers have funneled untold billions of dollars into these states to prop
by pjdesno 1y ago
At some point the rest of us have to stop paying for people's stupid behavior.
US taxpayers have funneled untold billions of dollars into these states to prop up their real estate industry by providing FEMA flood insurance at hugely subsidized rates, while the private insurance that's becoming unaffordable only covers wind damage. When you see those photos of towns wiped away by a hurricane, that's flood damage, and your tax dollars are paying to rebuild those houses in the same place. Over and over.
In a just world there would be legal liability for some of the real estate industry folks who persuaded people to put all of their net worth into an asset that's going to be blown away in the next hurricane, and other consequences for the politicians who enabled and encouraged them. The odds of this happening in real life seem to be about zero.