That's a true statement. In the wider context of this conversation, I think it is important to emphasize that a big factor for continued development along the coasts despite an increasing trend in damage appears to be climate change denial

From the article you posted:

"But rather than adjust the state's plans for coastal development, the Republican-controlled legislature passed a law in 2012 that banned state and local agencies from using sea-level estimates that "include scenarios of accelerated rates of sea-level rise." The law required predictions to stick to historical trends, despite scientific evidence that sea levels are rising at an accelerated rate due to climate change."