Peter, that would be a sensible argument if, a) NO wasn't built
below sea level in
a hurricane zone and if, b) the insurance rates people paid down there matched the actual risk.
Live wherever you want, insure accordingly, and when "unexpected" (and this wasn't really unexpected, now, was it?) disaster strikes, you'll be prepared.
Insurance subsidies are the real culprit here. They allow people to make stupid choices with the confidence that the rest of the country will bail them out when the inevitable happens.
I wonder how many billions we'll spend rebuilding that city. I know, let's build a bubble city completely underwater instead!
