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My right, my risk and my land : Comments
By Viv Forbes, published 18/1/2011Government has no business stopping building on flood prone land, but they have a duty to make the risks clear.
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People who are writing about all the devastation and the need to prohibit building in flood zone are forgetting that people *choose* to live where they do. If you bulid on a low lying area close to a river then flooding is an obvious risk that you face. This risk is something that a rational person, who does their homework, will take into consideration when calculating how much to pay for their house.
If two identical houses, one built on a flood plain and one on a hill, are sold-- then the flood prone house will sell for less. The money you save on the riskier house offsets the potential future damaged done by flooding. So the cost of the damage done by flooding is likely to be already paid for-- this is something that commentors are forgetting for when they quote the damage repair bill.