I sure like Kennedy when he questions nominees.
With that said, I think that buying homes in flood zones is the buyers risk.
According to recent data, there are approximately 81.7 million single-family detached homes in the United States, and an additional 8.2 million attached single-family homes, summing up to around 89.9 million single-family homes in total as of 2021. These numbers are based on estimates from the U.S. Census Bureau.
5 million in flood areas is actually pretty significant.
It seems like private insurance should offer a flood insurance at the market rate.
Regardless, I think Kennedy is supporting the wrong side of the argument. I watched documentary many years ago about New Orleans being built below sea level and it was just a matter of time before it was flooded.
Furthermore, If I live in an area that gets devastated by some event, my guess is nobody is going to help me. Insurance is terrible. They collect money so they can afford to pay people to deny claims.
As always the problem is too much government.
