Re:The Nightmare Scenario for Florida’s Coastal Homeowners
by riskable on Thursday April 20, 2017 @05:04PM
(#14160884)
It is different. The assumption with hurricanes is that after the storm is gone things can get back to normal if people get some assistance.
With climate change things will never "get back to normal" so investing time and money into these places is unwise. It is better to tell people to move now before it's too late.
My idea to solve the problem is this: Legally prevent U.S. banks from granting loans to areas that are likely to become unlivable because of climate change in the next 30 years. That way when the problematic areas do become unlivable only foreign banks and rich folks that could purchase homes with cash will have to deal with the economic consequences of their poor decisions.
With climate change things will never "get back to normal" so investing time and money into these places is unwise. It is better to tell people to move now before it's too late.
My idea to solve the problem is this: Legally prevent U.S. banks from granting loans to areas that are likely to become unlivable because of climate change in the next 30 years. That way when the problematic areas do become unlivable only foreign banks and rich folks that could purchase homes with cash will have to deal with the economic consequences of their poor decisions.