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Posts tagged flood insurance
Jacksonville’s Poorest Residents Live in the Worst Flood Zones
Nov 18th
Jacksonville’s Poorest Residents Live in the Worst Flood Zones
Capitalism at it’s worst
MEREDITH RUTLAND BAUER NOV 15, 2017
“We are okay with those areas being a danger and a disaster waiting to happen.”
“What these buyers didn’t know—or what they chose to risk—was that these neighborhoods were cheaper because the homes were built in a flood zone without underground drainage or nearby retention ponds, which state law didn’t require until the early ‘80s.”
“Nationally, areas with known flooding—which, like the Northside homes, were usually built half a century ago—are going to be valued much lower than areas with proper drainage and flood protection. Residents who settle there “don’t have other options,” Dickerson said. This cheap property comes back to bite residents when a storm comes knocking. “There’s a lot of people on the Northside who need a lot of help,’ Washington said. “A lot of these people just did not know they were in flood plains. A lot of them didn’t have flood insurance because they just did not know.’”
Has anything changed since John Steinbeck wrote “The Grapes of Wrath”?