Another factor is, if the storm is big enough, the feds step in with FEMA and bailout people who are underinsured.
People living in Florida's hurricane alley pay nowhere near the cost of the risk of living there, and the result is overbuilding, and catastrophic property losses when the big one eventually does hit.
Its true that government standards get tightened and relaxed, just as they do in banking. Which is probably a good reason not to rely upon them. They are dumbed-down, lowest common denominator standards anyway.
In a recent storm I saw a tree that had visibly fallen against a fully brick house and had merely slid down the wall. The house stood almost immaculate (aside from the smeared wall), with a broken window and a crushed fence.
I have noticed that roofers here in Ontario are rather lax in competency here. My in-laws townhouse just got re-shingled and they lost an entire shingle sheet (it had never been touched by a nail). Their neighbour in the building lost two shingles, one above the other, on a joint in the plywood and above the black-paper. They're lucky the management company got on the ass of the roofers and got it fixed as we got hit by about 50mm that weekend.
It's not just roofers. We've done a lot of runs out to repair siding jobs. We've seen entire siding sheets that had been installed with a single nail. They'll do like 2-3 rows with barely more than a nail per sheet and then nail an entire row properly, but because there's so much weight on the row that's nailed correctly that heavy-winds can cause the sheets to stretch and then when a big gust hits it can pop the sheet out of the lock.
Seriously, being used to solid reinforced concrete or brick buildings, building shoddy wood structures covered with paper-thin siding in tornado or hurricane alleys and then crying your eyes out when the inevitable happens is almost funny.
I heard a lecture once by a structural engineer who had worked in hurricane alleys in Florida. He said there was a cycle of tightening up rules (for instance on the number of nails needed to hold down a roof) after big storms, then relaxing them as the years went by. Without a big storm to remind people just why the rules were tightened up, there was inevitable pressure to relax them in order to make it cheaper to build.
This is more off-topic, but another interesting thing he said was that you could get a sense of maximum local wind speeds by looking at airstream-type trailers. They are, as you might expect, extremely well engineered to resist the sorts of wind pressures you get at highway speeds, so winds of 60-80mph don't tend to rip the hide off them. But you get above a certain threshold, and they all tend to give way at once.