Something does not make sense to me – if building a sand dune system will protect property, why not build it? I can’t believe the dunes would be so high as to completely ruin the ocean view. Of course, some have the “my insurance will pay for any losses” mentality. Gee, can’t imagine why premiums keep going up, can you??
Christie is 100% correct on this. The parts of the NJ shore that recently completed a beach/dredging replenishment project faired well compared to those that did not. The flood program should make accessing coverage conditional on the presence of dunes. No dunes = uninsurable risk. Flood insurance should be a priviledge, not a right, if you have a BEACHFRONT house!
How about homeowners who do not agree to the sand dune plan barred from buying federal flood insurance. If they want the ocean view, then they need to underwrite their own risk with the ocean moving into their livingroom.
As a taxpayer, I do not wish to finance this foolishness.
“…Rutgers University economists predicted a post-Sandy construction boomlet would have a positive effect on the state’s economy.”
It is sad and pathetic that person who presumably earn their living as economists don’t understand that fixing something that was broken adds no wealth to the economy. Apparently these “economists” don’t know the difference between wealth and money. I would love to send them a little something by Frederic Bastiat.
on a macro sense you are correct. However, I believe what they are referring to is confined to NJ. ie the money is going into NJ
from the rest of the nation. ( or wealth added to NJ and taken from somewhere else)
How about the government get out of the flood insurance business entirely? All it does is subsidize building in flood-prone areas. If building in flood-prone areas is a bad idea, perhaps we should stop encouraging it by making insurance for such foolishness affordable.
Build wherever you can legally buy and like. If you like your view and think you are stronger than mother nature, have it. But you shouldn’t get any aid or insurance for that decision.
Something does not make sense to me – if building a sand dune system will protect property, why not build it? I can’t believe the dunes would be so high as to completely ruin the ocean view. Of course, some have the “my insurance will pay for any losses” mentality. Gee, can’t imagine why premiums keep going up, can you??
Christie is 100% correct on this. The parts of the NJ shore that recently completed a beach/dredging replenishment project faired well compared to those that did not. The flood program should make accessing coverage conditional on the presence of dunes. No dunes = uninsurable risk. Flood insurance should be a priviledge, not a right, if you have a BEACHFRONT house!
How about homeowners who do not agree to the sand dune plan barred from buying federal flood insurance. If they want the ocean view, then they need to underwrite their own risk with the ocean moving into their livingroom.
As a taxpayer, I do not wish to finance this foolishness.
“…Rutgers University economists predicted a post-Sandy construction boomlet would have a positive effect on the state’s economy.”
It is sad and pathetic that person who presumably earn their living as economists don’t understand that fixing something that was broken adds no wealth to the economy. Apparently these “economists” don’t know the difference between wealth and money. I would love to send them a little something by Frederic Bastiat.
on a macro sense you are correct. However, I believe what they are referring to is confined to NJ. ie the money is going into NJ
from the rest of the nation. ( or wealth added to NJ and taken from somewhere else)
How about the government get out of the flood insurance business entirely? All it does is subsidize building in flood-prone areas. If building in flood-prone areas is a bad idea, perhaps we should stop encouraging it by making insurance for such foolishness affordable.
I’m starting to like this Christie guy.
Build wherever you can legally buy and like. If you like your view and think you are stronger than mother nature, have it. But you shouldn’t get any aid or insurance for that decision.