Factoid/2017/05/02
From Beachapedia
< Beachapedia:Factoid | 2017 | 05
National Flood Insurance Encourages Building and Rebuilding in Flood-Prone Areas
- "The National Flood Insurance Program was meant to encourage safer building practices. Critics argue that instead it created a perverse incentive — a moral hazard — to build, and to stay, in flood-prone areas by bailing people out repeatedly and by spreading, and in that way hiding, the true costs of risk." - excerpt from article in NY Times.
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