30-40 years ago there was no flood insurance on flood plain houses. Therefore no mortgages. To buh you had to pay cash. Then came Fed. flood insurance in which the owner was subsidized by tax payers for building in a poor location. Mortgages followed, as did lots of large houses. After all, others were taking all the risk. Congress did a rare good job fixing this, now has cold feet and it has been reversed. Too bad. Those who build 50 feet from the shore should pay lots more for insurance than those who are more prudent.
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