Surprised no one else brought it up so I will. Is anyone concerned with the new maps? They are preliminary and not final, but they have reclassified many homes into V zones, requiring them to be raised, and in some cases raised on pilings/piers. Not complying would cause flood insurance premiums to skyrocket. Like 30,000 bucks a year. Not a typo. Where do you live? Type in your address: http://www.region2coastal.com/sandy/table see also: https://www.facebook.com/StopFemaNow
this is nothing more then a power play for property. Govt is offering "fair" value for anyone wanting to sell their property to them.
If you think about it the old FEMA maps were probably based on the assumption that a direct hit in ny nj by a major storm was a low probability. I think that has changed post sandy. Add that to the fact that models predicting climate change are updated by the most recent data and science. I bet this is just another classic example of a goverment agency getting there head out of their ass and getting up to speed, finally. It's going to suck for many. I could be speaking from my butt though...
no, the risk is the same. A 1% chance storm still happens once every hundred years mathematically. Sandy prompted a (re)building code that was adopted by Gov Christie. The maps mostly affect the UNdamaged home..... now they will have to pay to raise, or pay ridiculous insurance premiums.
Huge policy difference between NY and NJ here. There is zero talk right now of any buyout program in NJ. This could certainly change with one quick announcement, but for now it's really interesting to see the different approaches being taken between the two states.
NC beaches have had these code requirements for decades. All the old homes were grandfathered, you just couldn't rebuild them at the same altitude IF they were a TOTAL LOSS. HOWEVER, no one has built homes any less than 10' from sea level (ie, not on pilings) since the 60's--long before the regulations existed and mainly in response to private insurance rates post Hurricane Hazel. If I remember my history correctly, Hazel was one of the disasters that promoted the national flood insurance plan... but I could be wrong. Point being, maybe you all should write your state legislature to suggest they look at how Hurricane Alley states handled this sort of thing in the past. From what I hear, you can look to Florida's plan for an example of a legislative disaster. NC's plan, on the other hand, has been a pretty good one. I did see an article that mentioned a 2012 law or amendment that may make your fears more of a reality but haven't read into it yet. Anyone know which one I am referring to?
I think that this last season is just "The peas before the pie". We should expect Southern Hemisphere style storms. This cyclone season had giant storms doing unusual things like back tracking. We're having tornadoes in January. The earth wobble has increased.
yeah I think you're right.... they have video from the mayors office while talking about the ramifications of another sandy hitting NYC... http://www.youtube.com/watch?v=O3ZOKDmorj0
Erock, the Biggert-Waters Act might be what you are referring to. It eliminates federal subsidy for flood insurance premiums. It is phased out over four years I believe.
