> Wealthy beachfront owners will likely find a way to socialize their losses, either by getting taxpayers to fund coastal armoring or via direct bailouts. Alternatively there is the risk that property in those areas becomes uninsurable and by proxy unbankable.
This is not hard to predict because it has already happened for decades.
It is not just about wealth though, Florida is (or was) a swing state with a ton of votes for the president, and has only increased in political influence. Politically, it is going to near impossible to stop federal taxpayer funded bailouts for them.
This is not hard to predict because it has already happened for decades.
https://en.wikipedia.org/wiki/National_Flood_Insurance_Progr...
It is not just about wealth though, Florida is (or was) a swing state with a ton of votes for the president, and has only increased in political influence. Politically, it is going to near impossible to stop federal taxpayer funded bailouts for them.