Msg. 42138 of 65535 (This msg. is a reply to
42136 by
clo)
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The Canyon Gate development was built on land that the Corp of Engineers had declared a flood overflow basin back in the 70's, designed to protect areas that had already been developed. The intent was to leave the land either dormant or for farming, but to keep it available for flood overflow. However, the state of Texas declared the land suitable for development back in the 90's and as they say, the rest is history.
- - - - - The above is a reply to the following message:
One Houston suburb devastated by Harvey is sure to flood again, yet speculators are making a killing buying and reselling storm-damaged homes
By: clo in
FFFT3 Sun, 25 Mar 18 1:17 AM
One Houston suburb devastated by Harvey is sure to flood again, yet speculators are making a killing buying and reselling storm-damaged homes
Saturday, March 24, 2018 3:18 PM EST
Canyon Gate’s fate lays bare a dilemma for coastal areas in a time of climate change: Many of the neighborhoods where we live should never have been built in the first place, and returning could make the consequences of the next disaster much more severe.
But in the short term, speculators are profiting from the urge to rebuild.
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