I was listening to some people talk about the processes to follow for those houses with flood damage. Carpets need to be replaced, bricks that were under the waterline need to be replaced, but if the wooden frames have been damaged then the whole house may as well come down. This is a tragedy for those who don’t have flood insurance, they commented, because of building/buying in an area listed as a flood zone. They now have nothing but a life riddled with debt.
Who do I blame for this? I blame the banks. Why would a bank or any other lending institute lend money to purchase a house in an area prone to flooding when it is known that the borrower cannot take out insurance against flooding?
My finger is pointed at them. Where does yours point?