Rising Cost of Flood Insurance Inspires Bill


Paul's picture

“But we have a moral duty — we have an economic duty — to protect property owners that have built as government has told them and have been law-abiding Americans."


Log from Blammo's picture

I'd say we have a moral duty to protect property owners from governments telling them how to build.

In a perfect market, land is used for its most profitable purpose. In a market where land that experiences frequent severe flooding is used for housing, using the same building standards as houses on dry land, something is severely distorting the market. That distortion undoubtedly includes federally subsidized flood insurance.

newjerusalemtimes's picture

Yeah, these people are crying to the same people who created their sudden communized/ponzi scheme problem.

And they're not happy about the prospect of actually having to afford the fair or market rate of insuring buildings in a flood plane, most of which would have never have been build without the State and US Federal State enticing them with subsidized insurance rates or extorted funds from others not in the flood plane.

I'm guessing that water rates in the Southwest will soon show signs of unsustainable, financially speaking, population centers, due to the current artificially low and State-subsidized water rates, which the State will no longer be able to prop up or keep low.

So, as the States and Federal State budgets become more unsustainable, due to slowing growth, demographics, and fiat currency issues, these are the kind of stories that we'll see more of; that is, how the statist idolators, who've worshipped and adored a false god, are horrified to find that their idol is going turn and rip them to shreds, financially, or at least not save them all, with extorted funds from others who are becoming increasingly more resistance to communized State predations like this.

I'm sure that it's probably mandatory, by contract, for many of those properties, especially the mortgaged ones, to maintain flood insurance. But, sooner or later, people will stop paying into many of these State schemes, and then, suddenly, it won't be required anymore, because enforcement will be unsustainable for the State and US Federal State.

Of course, a lot of wailing and moaning will come first, is my guess.