The banks will just ask for flood insurance.
>More than 861,000 of them do not have flood insurance. And for homes in those counties that aren't designated flood zones, the numbers are even worse.
>Those four counties have a population about 5 million people, and include the Florida Keys, Miami, Fort Lauderdale and Naples.
>And there's still cause for concern about homes and businesses covered by flood insurance.
>The National Flood Insurance Program, which is part of FEMA, is chronically underfunded.
>A series of major storms that caused floods in the last 12 years, including Hurricane Katrina in 2005 and Superstorm Sandy in 2012, has left the program roughly $25 billion in debt and with limited borrowing resources.
>Its financial woes are expected to be compounded by the flooding that devastated Houston and the Texas Gulf Coast after Hurricane Harvey.
>Irma will only add to the problem. [1]
[1] https://money.cnn.com/2017/09/08/news/economy/flood-insuranc...
That’s by design. They don’t want you to build there.
which is to say, you won't be able to get flood insurance.
Currently it's 25 billion in debt, but that's cheap in terms of federal programs of that magnitude (~15 $ per home per year). Further, the net economic gain from allowing people to build in slightly at risk areas has easily been worth 25 billion over that time period. Consider, without some form of insurance you could not build downstream of major dam's as the low risk of them failing puts huge areas at risk.
As sea levels rise and weather gets more severe, this program will become much more expensive.
Presumably things can be adjusted for with slightly increased premiums as it's still very close to break even for now.