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re: Will the astronomical rise in homeowners/flood insurance empty out the Southshore?
Posted on 5/22/23 at 2:54 pm to Monsieur le Duc
Posted on 5/22/23 at 2:54 pm to Monsieur le Duc
quote:
unpopular opinion: this is the sort of market inefficiency the government should step in to address directly. fema/nfip should disincentivize building in absurdly high-flood hazard regions (or incentivize investment in flood-mitigation infrastructure), but i'm not convinced that's what we're seeing here - especially given the language in op's article about "addressing inequities." state & federal government needs to subsidize flood & homeowners insurance in these markets, at least in locations that aren't inexcusably prone to flooding.
So are you trying to say that the descendants of the sugar plantation slaves that worked hard to build up Louisiana shouldn't get a break on insurance costs?
1
Posted on 5/22/23 at 2:58 pm to swampwiz
quote:
So are you trying to say that the descendants of the sugar plantation slaves that worked hard to build up Louisiana shouldn't get a break on insurance costs?
i'm not missing the sarcasm, but universal programs are considerably superior to programs directly targeting idiosyncratic segments of society (race X, gender Y, income Z), both in terms of efficiency (you don't need nearly as much bureaucracy to implement a universal program) to political resiliency (see, e.g., social security).
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