Sandy's Aftermath

Hi Everyone,

So Sandy has come and gone, but her aftermath will be here for years to come. Even though the majority of people have gotten their electricity back, there are still tens of thousands who have not. Why? To find the answer all one has to do is look at any ocean shore community in New Jersey, New York and Connecticut. Those shore communities still look like WWIII had hit them. The media has tons of print and screen stories about the damage done and the beginning of the rebuilding effort in these affected areas.

Here on the East Coast, recent history, just using the past 1 1/2 years, has shown that hundred year storms, or storms of the century, lately occur more on a yearly basis. We have not gotten an increase in the number of storms that hit us, but more of the storms have become monsters, with the monster damage that accompanies them. Is global warming to blame? And if not, what is causing these monster storms? Will there be another monster storm next year, like on 10/29/13? So I have a question that needs to be at least contemplated before this current rebuilding process is completed. Does it still make common sense to keep rebuilding in known flood zone areas like ocean beaches and barrier islands etc.? Even though the Federal Government mandates flood insurance in areas prone to flooding, how many times can you rebuild in the same area, over and over again, before it no longer makes any business sense, or common sense to repeatedly rebuild. I think the time is coming now for a major discussion about when a building, be it a home or a business, does not get rebuilt. Maybe after being demolished for the third time? Does it make any common sense to keep rebuilding when the question is not if, but when the next storm will hit? The answer/solution will be hard to get since you are talking about not rebuilding peoples homes and/or businesses after a certain number of storm related demos. But, even if you don't agree with me on this, you watch what is going to happen.

This is what I think is going to happen sooner rather then later. First of all, some one will figure out that just the tri-state region, (NJ, NY and CT), damage total will reach over $100 billion. Yes $100 billion, in just three states, which doesn't include all the damage done to: D.C., Maryland, Delaware, Rhode Island, Massachusetts and Maine. Add that to the damage from the tri-state area and the real damage total will be an astronomical amount, never before seen. That will make Sandy the costliest storm, by far, in U.S. history. Then the discussion will begin and sometime down the road, the cut off amount and/or number and how close one can build to an ocean and/or even a river, will be decided and then implemented. After the "third strike", an affected owner should be bought out based on the fair market value as of the date of the storm. There really is no other way, is there? It is an unfortunate statement of fact that humans are no match against mother nature. She will win every time. So why would it make sense to keep rebuilding in flood zones that can also be hit hard by hurricanes? That's a double whammy that is a lose-lose situation.

Til next week.

Peter