by John Rubino, Dollar Collapse:
The idea that as more people move to Hurricane Alley and other storm-prone places, the future cost of those storms will rise – and that we’re not accounting for that future cost and are therefore likely to be shocked by it – makes intuitive sense.
Now some recent studies have fleshed out the numbers, making it possible to tell this story visually (courtesy of yesterday’s Wall Street Journal). So here goes:
We’ve been encouraging people (through Federal Flood Insurance, artificially-low interest rates and state/local greed) to move from the interior of the country to the coasts, raising the population density of sunny but stormy locales like the Carolinas and South Florida: