I often here many complain about flood insurance.. and I often agree..
I had also heard so many stories of homes not rebuilt after Katrina.. and heard liberals crying about the area never recovering...
now I understand why... even if your home wasn't destroyed by flood waters. you still have to rebuild to new standards.
in my situation.. my home is in a flood area.. and while water has been at my door step,.. I have never had a claim in 27 years..
with the new rules adopted by Christie, I have two choices.. raise my home.. which is impossible or pay a huge premium. which few could afford.. (as much as 31,000 a year).. I am literately on the border,.. the west half of my house in one zone,.. and the east in another less costly zone.
with the increased cost.. even selling my home now would be impossible..
most if not all I have talked to say they are going to have to walk away.. or drop the flood insurance.
in NJ that amounts to 18% of the housing becomes unaffordable for most middle class families..
my home is concrete block and was built in 1927,.. it can't be raised up.
but the worst part is that no one has any answers,.. those who already rebuilt are screwed,.
and those who haven't may not be able to.. which is what needs to be addressed.. now, not in two years after they figure out the rules..
by some accounts the new flood zones will include about 40% of the homes in the state..
I now understand why it took so long for Katrine to rebuild.. no one knows the rules... let alone the implication of the rules..
I had also heard so many stories of homes not rebuilt after Katrina.. and heard liberals crying about the area never recovering...
now I understand why... even if your home wasn't destroyed by flood waters. you still have to rebuild to new standards.
in my situation.. my home is in a flood area.. and while water has been at my door step,.. I have never had a claim in 27 years..
with the new rules adopted by Christie, I have two choices.. raise my home.. which is impossible or pay a huge premium. which few could afford.. (as much as 31,000 a year).. I am literately on the border,.. the west half of my house in one zone,.. and the east in another less costly zone.
with the increased cost.. even selling my home now would be impossible..
most if not all I have talked to say they are going to have to walk away.. or drop the flood insurance.
in NJ that amounts to 18% of the housing becomes unaffordable for most middle class families..
Christie’s backing of FEMA’s Shore rules raises worries
Shore houses that have been in working-class families for generations will be abandoned. Property values will spiral downward, leaving Shore towns' budgets in tatters.
That is the dire scenario painted by a growing coalition of federal, state, and local officials along the Jersey Shore after Gov. Christie's announcement last week that New Jersey would adopt the federal government's preliminary floodplain maps - which would effectively require houses along large swaths of the Shore to be elevated to protect against future storm surges.
"FEMA is almost condemning properties the way they're handling this. They need to get their feet on the ground in the real world."
The federal maps, which are not expected to be made final for two years, determine federal flood insurance rates, and come as scientists project rising sea levels and worsening storm patterns in years to come.
But the prospect of having to lift up homes along New Jersey's barrier islands and coastal communities - in some cases seven feet off the ground atop concrete pilings - is bucking up against the financial ability of residents to meet the new standards and fears of a wider impact.
Christie's announcement, will technically only applicable to new coastal properties or those that have suffered damage beyond 50 percent of their value, has made real a process that until last week seemed a distant possibility.
my home is concrete block and was built in 1927,.. it can't be raised up.
but the worst part is that no one has any answers,.. those who already rebuilt are screwed,.
and those who haven't may not be able to.. which is what needs to be addressed.. now, not in two years after they figure out the rules..
by some accounts the new flood zones will include about 40% of the homes in the state..
I now understand why it took so long for Katrine to rebuild.. no one knows the rules... let alone the implication of the rules..