I've said some harsh things on this blog about the human propensity to put of buildings in harm's way. The fools who build, and the bigger fools who rebuild are merely being human--there is no place free of harm on this planet.
When Massachusetts gets hit by a big storm I wonder how I will be affected. Based on the simple geography of where I live, I'll be a lot better off than people who have higher property values, but I don't want to get too smug. On a year to year basis, I doubt that more than 1% of coastal property is impacted by catastrophe. If we spread out resources over a hundred year time span, it probably makes more sense to keep rebuilding junk than going to extreme (and possibly futile) measures to protect everything that is vulnerable against the worst-case scenario.
I bet this analysis has already been done by a lot of insurance companies.
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