People who want to pay for the cost of replacing their homes in Florida will pay for it, and they still get to make the choice to pay instead of being forced out of the place they would prefer to live.

Correct me if I am wrong but is not most of the damage near the ocean where you get massive surf flooding? Typically a few miles inland is ok no? That’s at least what I have read in the past. Might be wrong!

People are indicating they feel their best rational option is to stay (or even go there).

If you know the government will throw billions to your aid, then a disaster zone is actually far less risk than if they would not.

Or maybe you just like the beaches in Miami so much that you would rather part with the money than the beauty? Still a market working rationally.