Factoid/2005/11/21
From Beachapedia
< Beachapedia:Factoid | 2005 | 11
Federal Flood Insurance Promotes Coastal Development
- "Until the government started selling flood insurance, it was almost impossible to insure coastal floodplain property against the inevitability of storm surge But once the feds started offering insurance, real estate developers found mortgage bankers more than willing to lend them money, setting off a tsunami of new coastal construction." - excerpt by David Helvarg appearing in the Los Angeles Times article, free registration required, at http://www.latimes.com/news/opinion/la-op-fema20nov20,0,4354089.story?track=tothtml
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