Quote:
Originally posted by SteveStromberg
Just wait they approved 38,000 home up in The delta that are 8 ft below sealevel.
A dike broke there a while back due to a ground squirlle digging a hole and flood a huge area.
Will the tax payers have to "Bail out " those home owners?
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Living in a flood plain, we are forced to Pay FEMA for our own flood insurance. The particular area I live in hasn't ever been flooded, according to records dating back to 1983, my house was built in 1979. So at a rate of $700 per year, and considering the 50 or so houses in this area that have never experienced a flood, I think we have them covered.
Also, FEMA doesn't set a standard rate for flood insurance. They survey the area and assess rates by the likelyhood that there may actually be a flood, and base that on the value of the homes.