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Topic Title: The Federal Government Sells Flood-Prone Homes To Often Unsuspecting Buyers Topic Summary: The Trump way Created On: 09/14/2021 09:29 PM |
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- Cole | - 09/14/2021 09:29 PM |
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09/14/2021 09:29 PM
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Homes that were sold by HUD between January 2017 and August 2020 are in federally designated flood zones at almost 75 times the rate of all homes sold nationwide in that period.
Louisiana, Florida and New Jersey stand out as hot spots. More than one-fifth of homes sold by HUD in Louisiana were in flood plains. In Florida, it was about 12% of homes sold by HUD, and in New Jersey, 7%. In comparison, Zillow's records show that 0.1% or less of all homes sold in these states are in flood zones. In many cases, buyers of HUD homes get less information about flood risk and the cost of flood insurance than if they were to purchase the house from a private seller. http://www.npr.org/2021/09/13/...suspecting-buyers-npr- ------------------------- I was right. |
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