do homebuyers value stricter construction requirements in disaster-prone areas?
The record-setting 2004 and 2005 hurricane seasons have highlighted the U.S. coastal regions’ susceptibility to unpredictable, natural perils. Preliminary estimates of insured losses are $4 billion from Hurricane Rita, $5 billion from Hurricane Wilma, and $35 billion from Hurricane Katrina. google_ad_client = ‘pub-2905054723170537’; // substitute your client_id (pub-number) google_ad_channel = ‘6331884817’; google_ad_output = ‘js’; google_max_num_ads = ‘3’; google_ad_type = ‘text’; google_feedback = ‘on’; Aggregate economic losses from Katrina are estimated to exceed $100 billion. As more people continue to move to coastal areas, losses resulting from future hurricanes can only be expected to increase. One recent study puts the current value of insured coastal property in hurricane-prone states–those bordering the Atlantic Ocean and the Gulf of Mexico–at $6.76 trillion. Among the many policy responses to recent natural disasters and their costs have been proposals to tighten land use
