How is taxpayers subsidizing reconstruction through a national insurance program capitalism?
Maybe I’m missing something in your question, but isn’t anything that is federally insured being paid by taxpayers?
It’s not. It was an offhanded way of poking fun at all the jobs government creates by spending money (our tax$). Coastal construction companies probably pray for hurricanes so they can latch on to the govt tit for a good long ride.
Homeowners that are taken in after a FEMA “readjustment” of a floodplain could be grandfathered in and helped out. There are also significant upfit requirements for current owners that incur damage and then rebuild, upto and including lifting the house to a higher foundation. Homeowners that build new in a floodplain should be on their own...with no FEMA insurance. A totally destroyed grandfathered home should result in one last check to the owner...and then they’re on their own also.
The main structure of our home is within 20’ of the floodplain. FEMA just LOWERED the floodplain for the entire area by 4-5 feet...a significant drop for many. It didn’t make any difference to us because we were out of it in the first place...one of the requirements we had for the lot purchase. No floodplain insurance required. We chose a lake lot over a beach lot because of the flooding issue. Our insurance carrier of 3 decades said, at the time, they did not insure anything between I-95 and the coast! So we turned our sights inland.