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re: Mayors Discuss Ways to Stop Gentrification

Posted on 7/6/14 at 10:50 am to
Posted by SpidermanTUba
my house
Member since May 2004
36128 posts
Posted on 7/6/14 at 10:50 am to
quote:

Question for someone who may know more: How have flood zones changed where people live? I know my mother's house has been in our family for a few generations and it has become difficult to afford living there.



We live in zone B and have flood insurance. The rates for zone A would have been almost 10X higher. That's why we don't live in zone A
(though this dipshit homeowner and realtor tried to sell us a zone A house on Barracks claiming it was zone B. They even had the insurance company in on it.)

If you own your home outright or have a mortgage from a private party you don't have to buy flood ins though - and I imagine a lot in Zone A don't because its so expensive. You almost may as well rent when you add in property taxes!
This post was edited on 7/6/14 at 10:52 am
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