The cure was worse
During one of the many financial crises manufactured by the Tea Party Republicans, they exacted a change in how flood insurance is funded.
As a result flood insurance premiums for the average homeowner has increased four fold.
The result has been devastating. People can not afford to maintain their homes and the market for these homes has collapsed.
Thus, the value of the homes required to have flood insurance for their mortgages has dramatically gone down.
In other words, people can’t afford to keep their homes and they can’t afford to sell them either.
A cloud of foreclosure looms over them.
But this is only part of the story. Certain areas in our county are particularly hard hit by this Tea Party disaster.
In Jersey Shore, 80 percent of the homes require flood insurance.
In Muncy it is 65 percent and along Lycoming Creek it is similarly high.
If nothing is done, these communities will die.
It is time to roll back these changes.
The cure was worse than the disease.
Elliott B Weiss
Submitted by Virtual Newsroom