Nation's flooding safety net is $18 billion in the red
WASHINGTON - The first warning sign was a house in Humble.
Between 1977 and 1995, the National Flood Insurance Program paid out $806,591 for repeated storm damage to a suburban Houston home that was valued at $114,480. If you think the math doesn't add up, you're not the only one.
The federal government's program to protect coastal residents from nature's devastation has coughed up more than $8 billion over the past 15 years for more than 150,000 troubled properties that have filed multiple claims for storm damage. From The Houston Chronicle.
Between 1977 and 1995, the National Flood Insurance Program paid out $806,591 for repeated storm damage to a suburban Houston home that was valued at $114,480. If you think the math doesn't add up, you're not the only one.
The federal government's program to protect coastal residents from nature's devastation has coughed up more than $8 billion over the past 15 years for more than 150,000 troubled properties that have filed multiple claims for storm damage. From The Houston Chronicle.
Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!
