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October 23, 2013

Flood Insurance

October 23, 2013

Flood Insurance

This is a Forbes piece on the increases in Flood Insurance rates pursuant to the Biggert-Waters Flood Insurance Reform Act passed last year.  My personal view is that it in insane to have the taxpayer subsidize the cost of flood insurance for people who choose to build or buy homes is places likely to flood.

The  irony here is that Maxine Waters is now lamenting the effects of this piece of legislation which she cosponsored.

http://www.forbes.com/sites/zillow/2013/10/22/coastal-area-residents-stunned-by-flood-insurance-rate-hikes/