Thursday, November 29, 2012

It’ll never happen to me..

Why do people buy houses in places prone to flooding?

Floods have bought chaos to homes in many parts of the UK. But do house prices dramatically fall in flood areas and if not, why not?

Posted by richy richless @ 02:48 PM (3929 views)
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10 thoughts on “It’ll never happen to me..

  • Not sure if there is evdence of flood prone areas having reduced prices, compared to say those on a nearby hill. I would guess so as the flood prone houes would be less attractive a buying proposition and any seller would have to declare the risk/precedent
    What the recent spate of wet weather has brought home to me is the taxpayer (ie everyone) is subsidising peoples insurance to live in these (often nice river/seaside) areas (by goverment ‘funds’ or higher premiums elsewhere).
    Add to that the significant ammount of public money spent on localised flood defences in the last 5 years then these guys are already getting bailed out (no pun intended) to the cost of all of us.

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  • Bigger question is, why are we getting so much flooding, at a time when cloud seeding has become a way of life?

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  • Quite simply Libertas the speed of water runoff has increased and the more roads, roofs, drained fields etc etc the faster that water arrives in streams and rivers which have to shift larger volumes of water per unit of time. Better up stream drainage equals more downstream flooding. With regard to why people buy homes near rivers its because they perceive them to have greater value/kudos hence their twee developers names like Kings Wharfe, The Quays, Meadow View, Rivers Meet. It’s just peoples Vanity.

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  • One word: moral hazard 🙂

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  • @3 Mombers — you need to choose a (very) good school for your kids, mate.

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  • Yes, run-off and construction in inappropriate places without proper mitigation is a problem.

    BUT

    Silly credit conditions caused by the Bank of England’s QE and artificially low interest rates cause developers to chase capital values at the expense of risk management. If capital values were not inflated beyond their natural level by BOE policies, risk would be properly factored into said values and, proper measures could be afforded if there was not such inflation and taxation.

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  • Plus, ask the Dept of Energy and Climate Change about their routine cloud seeding operations. They are messing about with the weather, which you can see from the persistent contrails which did not exist a decade ago. They can easily screw up and send a deluge or, cause a drought.

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  • i thought those contrails were spraying mind control drugs. Sheesh this site is becoming loopier by the day.
    In answer to the question posed with the article: greed.

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  • We are having a tussle with our local council (Sefton) who are dertrmined to plop 500 new houes on farmland and greenbelt which at the moment is looking like a lakeland.Thiswill ensure:

    a. The new houses will flood

    b. Our existing homes will flood with the extra runoff

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  • Yo Bubba. If you think you are so smart, try debunking this article in The Guardian, publishing a map of geo-engineering activities. They state that Britain is a hot spot for activity, so if you don’t think the government have some explaining to do think again:
    http://www.guardian.co.uk/environment/graphic/2012/jul/17/geoengineering-world-map

    Here for their thorough archive on the topic:
    http://www.guardian.co.uk/environment/geoengineering

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