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Thread: What do you think of Houston's future?

  1. #11
    Senior Member dmc's Avatar
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    Quote Originally Posted by Lainey View Post
    The question is, Who pays when only 20% of homeowners had flood insurance? Here's an opinion piece from USA Today:

    https://www.usatoday.com/story/opini...umn/619926001/
    I wish the government would get out of the insurance business. It would probably lower the value of my home, but I self insure for most of the value from flood anyway. But for those who have to get a loan it would mean they could not live here. Or would have to pay more for insurance.

    People would still live here, in very expensive homes. But they would either self insure or get it elsewhere, like they do now if they want additional coverage.

  2. #12
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    I could see a move toward renting instead of homeownership.

  3. #13
    Senior Member SteveinMN's Avatar
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    Quote Originally Posted by dmc View Post
    I wish the government would get out of the insurance business. It would probably lower the value of my home, but I self insure for most of the value from flood anyway. But for those who have to get a loan it would mean they could not live here. Or would have to pay more for insurance.

    People would still live here, in very expensive homes. But they would either self insure or get it elsewhere, like they do now if they want additional coverage.
    It surprises me (only a little) that there is not a stronger sentiment for this line of thought. However, since this is not the political forum, I'll stop here.

    I think Houston will rebuild. As other posters point out, there is an economic base which will be disrupted but is not (yet) in danger of being phased out in favor of something else (it was easy to switch from buying a Pontiac to buying a Mazda; it's not so easy to switch from burning petroleum to using some other form of fuel).

    I also think that, for every homeowner or businessperson who throws in the (figurative) towel and leaves, there will be someone who moves in for the warmer temperatures, the lower cost of living, and the benefits of living in one of the biggest cities in America. It will take sustained meteorological events and several wallops in the wallet before most people think differently. What's the saying? For everyone trying to get rid of losing stock shares, there's someone willing to buy because they predict an upswing.
    If Americans expended even a fraction of the energy on civic engagement that we spend on consumer ideology, our democracy would be much healthier. Can you imagine people camping out to vote? -- Charles Roberts, Amherst, Mass., Nov. 25, 2006

  4. #14
    Senior Member Tradd's Avatar
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    Quote Originally Posted by gimmethesimplelife View Post
    Good question. This is going to make rebuilding in Houston (or elsewhere, really) sticky for many people. I wonder if Houston may become something like Detroit - there are actually people who have moved to Detroit and have accepted the risks of living there due to the ultra low housing costs. There's actually a community of entrepreneurs there that praise the place as a cheap place to get a business off the ground.....Though in Houston's case, with the petroleum industry there, I don't know how low land valuations could realistically sink. There's more market forces invested in getting Houston rebuilt than Detroit, at least in my mind. Rob
    There is much more of an economic base in Houston. It's not like Detroit, which is essentially ghetto.

  5. #15
    Senior Member Williamsmith's Avatar
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    This event will actually boost Houston's economy. Demographics .....2/3 of the population are younger than 45. And outlook.....most Houstonians , not to mention Texans are proud of their region or state. Florida is much more vulnerable due to its older demographics.

  6. #16
    Senior Member flowerseverywhere's Avatar
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    Quote Originally Posted by Lainey View Post
    The question is, Who pays when only 20% of homeowners had flood insurance? Here's an opinion piece from USA Today:

    https://www.usatoday.com/story/opini...umn/619926001/
    Very good article. Thank you

  7. #17
    Senior Member flowerseverywhere's Avatar
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    Quote Originally Posted by Williamsmith View Post
    This event will actually boost Houston's economy. Demographics .....2/3 of the population are younger than 45. And outlook.....most Houstonians , not to mention Texans are proud of their region or state. Florida is much more vulnerable due to its older demographics.

    i live in Florida and I resemble that remark.

    Actually a problem here is is that many people would not be physically able to tear out drywall and carpeting. A flood catastrophe would bring in scammers in epic proportions. We actually have a crimes against seniors office to deal with all the scammers in normal times.

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