Climate Change Might End Government Subsidies For Homes Built in Flood-Prone Areas

by Charles Mudede
Privately owned insurance companies are not stupid;they don't to sell policies to homeowners in flood-prone areas. It was too risky before climate change kicked in, and it's going to be much more risky in the age of rising sea levels. The housing market in flood-prone areas has been supported by the government's National Flood Insurance Program, which sells cheap plans to millions of homeowners. And here we have a perfect example of how the "free market" really works. It's not