Cost of Katrina ~135 billion in 2017 dollars (https://www.thebalance.com/hurricane-katrina-facts-damage-and-economic-effects-3306023 … + inflation scaling). Don't panic yet.https://twitter.com/Revkin/status/901975714798415874 …
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They tried reforming flood insurance, mildly, then turned around and gutted it. https://en.wikipedia.org/wiki/Homeowner_Flood_Insurance_Affordability_Act_of_2013#Biggert.E2.80.93Waters_Flood_Insurance_Reform_Act_of_2012 …
Not gonna happen (without tyranny). Easy and cheap to build on floodplains, especially if sprawling is favoured.
If flood insurance weren't subsidized the problem would be greatly diminished.
That assumes long-term rational thinking. Also IRL what happens is that areas get requalified as "low-" or "no-risk" to avoid insurance.
At least it’ll boost GDP
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