Cost of buying out flood-prone homes: $5B and rising

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Mosby, Missouri, residents are among those waiting years for a government check to buy them out of their flood-prone homes.

In this photo taken May 8, 2019, Elmer Sullivan checks out high water in the Fishing River in the small community of Mosby, Mo. Sullivan and nearly half of the homeowners in Mosby signed up in 2016 for a program in which the government would buy and then demolish their properties rather than paying to rebuild them over and over. They're still waiting for offers, joining thousands of others across the country in a slow-moving line to escape from flood-prone homes.

Finally fed up, Sullivan and nearly half of the homeowners in Mosby signed up in 2016 for a program in which the government would buy and then demolish their properties rather than paying to rebuild them over and over. They’re still waiting for offers, joining thousands of others across the country in a slow-moving line to escape from flood-prone homes.

The AP analysis shows those buyouts have been getting more expensive, with many of the costliest coming in the last decade after strong storms pounded heavily populated coastal states such as Texas, New York and New Jersey. This year’s record flooding in the Midwest could add even more buyouts to the queue.

DeFazio wants to expand and revamp a buyout process that he describes as inefficient and irrational. He’s backing a proposed pilot project that would give homeowners a break on their flood insurance premiums, as long as they agree in advance to a buyout that would turn their property into green space if their homes are substantially damaged by a flood.

After Superstorm Sandy pummeled New Jersey and New York in 2012, Duke University graduate school student Devon McGhee researched what happened to hundreds of Staten Island homeowners who took buyouts. She found that all but two of the 323 homeowners she tracked relocated to areas with higher poverty levels. Three-quarters remained on Staten Island, and about one-fifth moved to homes that still were exposed to coastal flooding hazards.

The city initiated a buyout in 2010, then received additional money to buy more homes about five years later. It’s purchased more than 80 so far, with about 10 more to go, said Annie Vest, a former Oklahoma state hazard mitigation officer who now works for an engineering firm administering Kingfisher’s grant.

But local officials aren’t waiting around. Mayor Cathy Crain said they are looking into the potential for a private developer to relocate some houses and to acquire higher land where new homes and businesses could be built.

 

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Explore options always never give upconfidence

Tired of Winning Racist behavior comes at a cost. Keep IDOLIZING DerangedDonald

It’s almost as if the climate in these region has changed over time.

And we all pay for their desire to live by rivers in flood zones.

In related news, the COSTS of this DEVASTATION 'has to become part of the Green New Deal debate' insofar that Fracking in the U.S. is the 1 CAUSE of such MASS FLOODING.

Missouri tax payer here & I don’t want to pay for their bad life choices. No one forced them to live there, so pull yourself up by your boot straps and quit begging for a government hand out!

Can't, socialism...

🤦‍♀️

DerangedDonald has given 62 million to Brazilian brothers for their meat packing plant. He gives money to foreign nations and doesn't give a shit about USA!

Every last one of them are loyal Trumpers. Keep waiting for your hero to help you out & ask the farmers how that is working out for them. Maybe he will send more hats.

chiproytx is the sole reason why they’re not receiving assistance.

Wait. Isn’t this socialism? Funny how it ain’t when it benefits your immediate needs.

Maybe their orange messiah could fly down and toss out rolls of paper towel to help soak up all the water like he did in Puerto Rico.

Ahh socialism, don't you just love it?

Missouri government is too busy eroding women’s rights to care about suffering citizenry.

Waiting doesn’t accomplish much. Try being proactive.

No one forced them to buy homes down by the river. Why would taxpayers have to buy them out?

Why should POTUS pay for deliberate destruction via GEOENGEERING WEATHER! Just like California D.E.W.'S GENOCIDE 45 THOUSAND MURDERED BY ROTHCHILDS...NO FEMA FOR MURDERS! I HOPE PEOPLE ARE SUEING THE HELL OUT OF THEM..THEY NEED TO BE PUT IN PRISON! AND GIVEN THE DEATH PENALTY!

The funny part is: The cost of not buying them out is even higher.

Why should taxpayers buy them out? You assume the risk of living there and the financial responsibility..

Ask Rep Chip Roy

Keep voting for Republicans and you'll keep on waiting

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Cost of buying out flood-prone homes: $5B and rising.AP has found the U.S. has spent $5 billion buying private properties in recent decades to avoid having to repeatedly rebuild after flooding. The buyouts are expected to get more expensive as climate change leads to more intense rainfall and rising seas. Climate change Global warming REEEEEEEEEEEEE why aren't you listening?!?!?!?!?!?! Zomg 12 years to doom!!!!!!!!! that's called big government socialism Socialism SOCIALISM ✔️ If you deny climate change science you should not qualify for this money.
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