No. of Recommendations: 17
JasperCapital asks,

And then there is the real moral hazard - the implied bailout that enables real estate markets etc to function in places like hurricane-prone Florida. Would people REALLY build there if they were going to be on the hook for a personal bankruptcy when the next Cat 5 hits?


People would still build, but with a much smaller footprint if they were shouldering the full actuarial cost of flood and wind damage insurance.

In a place like the Florida Keys, I wouldn't build anything more permanent that paved slab with a utility hook-up for a fully-fueled motorhome.

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