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Re: What should be rebuilt in TX and LA?
Posted by cfishgo (more from cfishgo) on Tue, 27 Sep 2005 11:00:41
In Reply to: What should be rebuilt in TX and LA?, Noel, Tue, 27 Sep 2005 05:23:21
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I may be wrong here, but the taxpayers aren't paying to rebuild individual properties.. they'll be rebuilding the damaged infrastructure (roads, utilities, public agencies like police, etc.). They will also probably assist national economic assets like the oil industry...
And my opinion is that Yes, they should. Otherwise, if you do something like condemn entire areas/neighborhoods, you need to compensate those owners. Also, there would be a big battle about those borders, increased/decreased property values, etc...
I'm more worried about what will be built up to replace those buildings lost. Most folks only insure the property value which won't cover reconstruction of the same building; so, they'll put up a McMansion instead. Example: solid masonry construction cost a lot more than wood framing. Property values have nothing to do with construction type and quality, but more to do with local economy and location... Also, I've found in times of massive claims, the insurance company will write a check directly to the Owner. A lot of Owners will try and build something cheaper than the settlement and pocket the rest. This will lead to really cheaply constructed replacement buildings if left unchecked.
posted by 66.166.132...
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