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When the Levee Breaks
Quote:
Originally posted by Mmmm, Burger (C.J.)
Those are sunk costs, not network effects. The question is, is it, overall, cheaper to rebuild elsewhere than to rebuild in the same place and continue the levee system that doesn't always work. And my premise is that a lot of that infrastructure has not, in fact, survived. How many telephone poles do you think are still standing? 3?
The network effect, if any, is that since some people already live there, and probably are not displaced, they won't want to move to the new place.
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Obviously the scope is very, very different but we're still recovering from the flooding in Tropical Storm Allison, which flooded a good part of Houston, especially the Medical Center and downtown. I know a good number of rebuilding projects are still not quite up and running and negotiating with FEMA and insurance companies was an amazing pain in the ass. I feel like I'm walking through a the Death Star with all sorts of blast doors that are supposed to close if it starts flooding again like that. I hope I never have to find out.
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