Hark! Was that the sound of New York Gov. Andrew Cuomo saying we shouldn't eternally rebuild every $1 million bungalow that's destroyed by storms on the coastal floodplain?
Yes, it was! Hooray!
I will quibble with his plan, but he's got my nod, it's the right thing to do.
Gov. Cuomo wants to spend $400 million of the $51 billion Hurricane Sandy federal aid package to buy "10,000 or so homes built on the 100-year flood plain," and turn the land back to Mother Nature. No rebuilding, not ever again.
Quibble: there was no mention of private flood insurance. I think every owner of property in the 100-year-flood plain or anywhere vulnerable to severe storms should be required to purchase full replacement cost insurance for any loss, for any reason.
You wanna rebuild your storm-damaged home, again? That should be on your dime.