Christie says he’s trying to get funds to buy flood-prone homes

[Buster]

http://www.northjersey.com/news/Chri...one_homes.html

I agree with this policy.

Where will the money come from?

Does this apply to building on barrier islands or just near the Raritan, Passiac and Hackensack rivers?

During a tour of a flood-ravaged Sayreville neighborhood Wednesday morning, Governor Christie touched on something many North Jersey mayors have been lobbying for – funding to buy out flood-prone homes.

“What we’re trying to do [is] get some of the money to buy you out,” he told a resident of the Middlesex County town.

Cody Buck, a resident who showed officials how the back half of his home fell into his basement, suggested the neighborhood be turned into soccer fields.

“I think, governor, we need to level the whole neighborhood, give everybody a check and get out of here,” he said.

Buck said he had just rebuilt his entire house and put $8,000 into repairs to his basement after Tropical Storm Irene last year.

Before the storm started Lt. Gov. Kim Guadagno was in Hillsdale, a section of which is prone to flooding, to announce a transportation infrastructure grant.

Hillsdale Mayor Max Arnowitz said at the event that he had asked the state to order the water company to lower Woodcliff Lake, to mitigate flooding. The governor made the order and there was no major flooding in the borough, parts of which were devastated by Tropical Storm Irene.

Arnowitz said the borough has been trying to buy out homes in flood-prone areas, but it’s costly. Hillsdale is in the process of finalizing two home purchases, he said.

“You have to see these people coming out of the flood zone,” he said Friday before the storm him. “I have so much empathy for them. I’d love to buy their homes out.”

Pequannock bought six homes near the Pompton River in 2008. New Milford and Fair Lawn have also purchased homes in low-lying areas.

And residents who haven’t bought out have approached public officials.

Some of the money comes from the Federal Emergency Management Agency, but often the towns also have to come up with funds.

This article includes information from a pool report of Christie’s visit to Sayreville.

[GandWFan]

I think that this is a great idea. We should have the federal government pay for all homes in flood zones. Invoke Eminent Domain and give them current market value. Pay for it out of the federal budget, then do Quantitative Easing 3 to pay for it with phony money.

Why not. At least this devaluation of our currency will actually help people.

[Winstonbiggs]

Where do people who live in flood plains get flood insurance? The Federal Government. US citizens have been subsidizing people living in flood plains for decades. Without that insurance would all these homes have been built?

[GandWFan]

Originally Posted by Winstonbiggs

Where do people who live in flood plains get flood insurance? The Federal Government. US citizens have been subsidizing people living in flood plains for decades. Without that insurance would all these homes have been built?

Yes. Many were built before flood insurance. People have been living next to water since there were people.

IN any case, what do you think of the OP?

[JetPotato]

Can Christie buy the sinking Jets too?

[Warfish]

Originally Posted by GandWFan

Yes. Many were built before flood insurance. People have been living next to water since there were people.

IN any case, what do you think of the OP?

I think it's not the role of Government to subsidize a select few peoples poor decision making as to where to live.

That went for New orleans, a city that for all intents and purposes should not exist where it does (i.e. beloe sea level, right next to the sea).

It goes for the Mississippi Flood planes residences.

And yes, it goes for beachfront homes up and down the east and west coast.

If one wishes to live there, by all means, do so. Thats freedom.

But when the weather hits those locales, there should not be n expectation that the Government (i.e. taxpayers like myself) will pay you for your choice.

It's the same argument I have against the Government buying/subsidizing failing mortgages and giving them special rates to keep them afloat. Once again, the people who make good decisions, and often fund the tax base, pay for those who make poor or "shoulda known that would happen" decisions.

At some point, as a society, we will either have to decide we believe in both freedom and responsabillity, or we'll have to go whole hog and decide no one is responsible, and all mistakes will be paid for by the State.

[GandWFan]

Originally Posted by Warfish

I think it's not the role of Government to subsidize a select few peoples poor decision making as to where to live.

That went for New orleans, a city that for all intents and purposes should not exist where it does (i.e. beloe sea level, right next to the sea).

It goes for the Mississippi Flood planes residences.

And yes, it goes for beachfront homes up and down the east and west coast.

If one wishes to live there, by all means, do so. Thats freedom.

But when the weather hits those locales, there should not be n expectation that the Government (i.e. taxpayers like myself) will pay you for your choice.

It's the same argument I have against the Government buying/subsidizing failing mortgages and giving them special rates to keep them afloat. Once again, the people who make good decisions, and often fund the tax base, pay for those who make poor or "shoulda known that would happen" decisions.

At some point, as a society, we will either have to decide we believe in both freedom and responsabillity, or we'll have to go whole hog and decide no one is responsible, and all mistakes will be paid for by the State.

Great philosophical discussion. One that I agree with btw.

However that is not where we are today. The reality is this. Every year we rebuild these homes thru federal funds only to have them destroyed again the next year. Enough is enough. Lets buy them out, build parks that are flood tolerant and stop this stupid cycle.

[Axil]

Originally Posted by GandWFan

Great philosophical discussion. One that I agree with btw.

However that is not where we are today. The reality is this. Every year we rebuild these homes thru federal funds only to have them destroyed again the next year. Enough is enough. Lets buy them out, build parks that are flood tolerant and stop this stupid cycle.

/agreed

If leaving them to fend for themselves is not an option, and politically it's not, then it's cheaper to buy and level the house than to send in fema every year.

I think rebuilding New Orleans was asinine, it would've been much cheaper for the nation to subsidize moving that city above sea level.

That said, i agree with Warfish in principle. I wish we lived in a nation which allowed for the kind of self sufficient, to let the homeowners themselves deal with their choice of location. Unfortunately we don't.

[Winstonbiggs]

Originally Posted by GandWFan

Yes. Many were built before flood insurance. People have been living next to water since there were people.

IN any case, what do you think of the OP?

I think people should live anywhere they want to but I believe the insurance risk should be reflected in the premiums they pay not subsidized by the general public.

[Axil]

Originally Posted by Winstonbiggs

I think people should live anywhere they want to but I believe the insurance risk should be reflected in the premiums they pay not subsidized by the general public.

What about the cost of rescuing them from the roof of their home?

[DDNYjets]

There are precedents for Eminent Domain for public safety. This probably qualifies.

Just have the feds print some money or borrow it from China. No worries.

[Winstonbiggs]

Originally Posted by Axil

What about the cost of rescuing them from the roof of their home?

Since we have an infrastructure of responders, Police, Fire, Military, Etc., etc., etc already funded by taxpayers I have no issue with using it to rescue people in need. Where I stop short is funding their private property needs.

[Warfish]

Originally Posted by Winstonbiggs

Since we have an infrastructure of responders, Police, Fire, Military, Etc., etc., etc already funded by taxpayers I have no issue with using it to rescue people in need. Where I stop short is funding their private property needs.

Well said. +1

[MnJetFan]

Where is the money coming from? China maybe! BTW it is hard to get flood insurance after the flood. BTW I have family on Staten Island and Long Island.

[palmetto defender]

You can buy property insurance anywhere.
Since I live in Charleston SC I have home insurance with hurricane and flood riders. Also personal liability. It costs more.
I own my home outright but if you have a mortgage it should be required by the holder.
If you don't have insurance you're playing with fire. And that includes renters.