The Climate Change Thread

[afransen]

Japan isn't a pancake. Huge swathes of Florida are within a couple meters of sea level.

 

[Admiral Beez]

Japan isn't a pancake. Huge swathes of Florida are within a couple meters of sea level.

One of the differences I find with us Canadians and our American cousins is that we rely on our contrarian nature to keep us safe and to reassure ourselves that the prudent path is best, whereas Americans are more optimistic, often recklessly and stupidly-so. But that's in part why the US beats Canada hands down in per capita innovation, start-ups, housing starts, employment, and yes foreclosures, insurance failures and disaster-related deaths and financial loses. It doesn't matter if Florida is heading the way of Atlantis, people will come and re-build and live life, on the assumption that what happened to those before will not happen to them.

 

[afransen]

One of the differences I find with us Canadians and our American cousins is that we rely on our contrarian nature to keep us safe and to reassure ourselves that the prudent path is best, whereas Americans are more optimistic, often recklessly and stupidly-so. But that's in part why the US beats Canada hands down in per capita innovation, start-ups, housing starts, employment, and yes foreclosures, insurance failures and disaster-related deaths and financial loses. It doesn't matter if Florida is heading the way of Atlantis, people will come and re-build and live life, on the assumption that what happened to those before will not happen to them.

Easy enough to do when you have government-backstopped insurance. A bit like how Canadians keep on building on the floodplain of the Red River. Though, at least with river flooding, you known that it will subside and may only be a once in a century occurence. Once in a century hurricanes are going to happen in Florida every few years.

Climate change is a fact of life we are going to have to adapt to. Rebuilding homes and infrastructure in vulnerable locations doesn't make any economic sense. There isn't really a shortage of land in North America, we should be investing in places that are already or can be reasonably hardened against natural disasters. Government aid to rebuild homes in the same locality every decade is just waste.

 

[AlvinofDiaspar]

Climate change is a fact of life we are going to have to adapt to. Rebuilding homes and infrastructure in vulnerable locations doesn't make any economic sense. There isn't really a shortage of land in North America, we should be investing in places that are already or can be reasonably hardened against natural disasters. Government aid to rebuild homes in the same locality every decade is just waste.

It isn't just waste - it is basically a form of moral hazard which the government should avoid like the plague.

AoD

 

[lenaitch]

It isn't just waste - it is basically a form of moral hazard which the government should avoid like the plague.

AoD

A lot of jurisdictions, particularly in the US, take a very laisse-faire attitude towards things like land use and zoning. I recall a hurricane that hit one of the Texas cities a few years ago and a lot of the homes were in a known flood zone but the city had virtually no zoning restrictions. There are a number of jurisdictions, not necessarily remote, that don't enforce a building code.

'Land of the free' - 'my home, my castle' type of logic.

 

[Towered]

A lot of jurisdictions, particularly in the US, take a very laisse-faire attitude towards things like land use and zoning. I recall a hurricane that hit one of the Texas cities a few years ago and a lot of the homes were in a known flood zone but the city had virtually no zoning restrictions. There are a number of jurisdictions, not necessarily remote, that don't enforce a building code.

'Land of the free' - 'my home, my castle' type of logic.

Perhaps those irresponsible homeowners should then bear the full cost of any property losses.

 

[lenaitch]

Perhaps those irresponsible homeowners should then bear the full cost of any property losses.

And a lot of them do. I've been hearing a lot on another forum that property insurance in a lot of places, including Florida, is into the five figures with a lot of restrictions - if you can even get it.

 

[Admiral Beez]

Perhaps those irresponsible homeowners should then bear the full cost of any property losses.

They do. The replacement cost to build a house in Florida can be under $300k. There’s a lot of wealth in those coastal areas. If your property isn’t leveraged you don’t need flood insurance - you just build a new house where the old one was.