Bans on rebuilding in disaster-prone areas ignore homeowners preferences – raising costs works better
- Written by Alexander Smith, Associate Professor of Economics, Worcester Polytechnic Institute
A Granada Hills, Calif., resident tries to save his home from a recent fire. AP Photo/Michael Owen BakerAs California’s wildfire season intensifies, a growing number of residents in the state want to ban people from building in areas at greatest risk.
That’s because taxpayers bear the burden of protecting homes in dangerous areas when...