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Started By
Message
re: Risk 2.0 - FEMA Finnda Eat!
Posted on 9/15/21 at 10:47 am to lafloodcert
Posted on 9/15/21 at 10:47 am to lafloodcert
quote:
lafloodcert
Give me a break. Fema has talked about this for years and the only reason it didn't happen sooner is Congress keeps delaying it. This isn't some smoke and mirrors conspiracy. The National Flood Insurance Program is broken because people do not pay the true actuarial cost reflective of the risk for the areas they choose to live in. The NFIP runs a multi-billion dollar deficit every year because the taxpayers of America bail out its losses. Taxpayers are bailing out coastal homeowners for building stupid things in stupid places. Local examples include slab-on-grade homes in Lafitte and Braithewait...stupid. Nationally, we have people building on the seaward side of dunes up and down the east coast, Dauphin Island, etc. etc...stupid. This is the story of the three little pigs, except the pigs who built their houses of straw and sticks not only are astonished when they get blown down, but then turn around and expect the other pigs to pay for reconstruction in the same stupid manner in the same stupid location. What happened to personal responsibility? If we want to get into this from an equity standpoint, the NFIP tends to benefit mostly those who are already affluent, since the total value of losses each year is concentrated in assets along coasts, which are often more high-dollar real estate and second homes.
From an analytical perspective, it may actually help many areas in Louisiana, since there will be more accounting of natural features and non-federal flood protection infrastructure in the Flood Insurance Rate Map process, all of which FEMA currently does a dogshit job of accounting for when modeling and making flood maps.
So, in summary, Risk Rating 2.0 encourages more personal responsibility. Think before you build. Pay what you owe in a free market. Oddly, for the current political climate, this is a pretty conservative, responsible, American thing to do as a nation.
Risk Rating 2.0 will have people pay what it truly costs to ensure risky decisions, plain and simple.
3
Posted on 9/15/21 at 12:13 pm to man in the stadium
quote:
man in the stadium
I mostly agree except for how it appears that this will be affecting zone X, historically low risk properties...if what is being reported is correct.
Posted on 9/19/21 at 9:06 am to man in the stadium
quote:
Give me a break. Fema has talked about this for years and the only reason it didn't happen sooner is Congress keeps delaying it. This isn't some smoke and mirrors conspiracy. The National Flood Insurance Program is broken because people do not pay the true actuarial cost reflective of the risk for the areas they choose to live in. The NFIP runs a multi-billion dollar deficit every year because the taxpayers of America bail out its losses. Taxpayers are bailing out coastal homeowners for building stupid things in stupid places. Local examples include slab-on-grade homes in Lafitte and Braithewait...stupid. Nationally, we have people building on the seaward side of dunes up and down the east coast, Dauphin Island, etc. etc...stupid. This is the story of the three little pigs, except the pigs who built their houses of straw and sticks not only are astonished when they get blown down, but then turn around and expect the other pigs to pay for reconstruction in the same stupid manner in the same stupid location. What happened to personal responsibility? If we want to get into this from an equity standpoint, the NFIP tends to benefit mostly those who are already affluent, since the total value of losses each year is concentrated in assets along coasts, which are often more high-dollar real estate and second homes.
From an analytical perspective, it may actually help many areas in Louisiana, since there will be more accounting of natural features and non-federal flood protection infrastructure in the Flood Insurance Rate Map process, all of which FEMA currently does a dogshit job of accounting for when modeling and making flood maps.
So, in summary, Risk Rating 2.0 encourages more personal responsibility. Think before you build. Pay what you owe in a free market. Oddly, for the current political climate, this is a pretty conservative, responsible, American thing to do as a nation.
Risk Rating 2.0 will have people pay what it truly costs to ensure risky decisions, plain and simple
Nailed it.
Posted on 10/5/21 at 11:12 am to man in the stadium
House is Zone B, Insurance not required by bank. Figure I should have it anyway. We moved into the house in Dec 2020. Just got a quote. $2305 for $250k
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