First-World Phenomena: Expensive Beach Homes

Ms. Carman and her husband, who had hoped to retire in a few years, were reconsidering whether they could afford to remain on the coast on fixed incomes. But she said she feared that even selling their home could be hard. “Only wealthy people could afford it, I guess, not middle-class people,” she said. “You’re going to price us out of here.”

via Cost of Coastal Living to Climb Under New Flood Rules – NYTimes.com.

…the market is telling them that where they live is too dangerous. If they choose to live in harm’s way, they should bear the cost of that risk — not the taxpayers.

via End Federal Flood Insurance – NYTimes.com.

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