Buying Back Flooded Homes

From the Associated Press:

Experts: Get residents away from flood plains

only natural that some low-lying areas near rivers and streams get flooded. That’s why some environmentalists, academics and members of a New Jersey task force say the state should think twice about rebuilding areas hit repeatedly by floods.
After touring areas along the Delaware River that had been severely flooded for the third time in 21 months, Gov. Corzine said he would look to the flood task force to help figure out how to reduce the damage the next time the rivers rise.

“Repeat problems demand some kind of action be taken, judgments made,” Corzine said Thursday.

That task force earlier this year released a draft set of recommendations that called for redrawing maps to show bigger flood plains, imposing tighter restrictions on development in those areas and using government money to buy some homes that are in especially flood-prone areas.

The recommendations were not getting much attention until this week’s Delaware River flooding, which forced about 6,000 New Jersey residents to flee their homes, and which Corzine compared to the $30 million in damages suffered by the state during floods in 2005.

Do you think the state should buy back flood prone homes?

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One Response to Buying Back Flooded Homes

  1. Anonymous says:

    Grim..the flooding over here in Bucks County, PA is devastating in Yardly and New Hope.

    I’m watching some listings in which sellers previously claimed “No flood insurance required” or “owner says this property has never been flooded.” to see if the language changes.

    I’m NOT belittling their losses, but am looking for more agent honesty, as always.

    Pat

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