Environment
As Flooding Worsens, Home Buyouts Move at a Snail's Pace
A new report finds that it typically takes five years or longer to complete the buyout process, leaving homeowners of flooded properties in limbo.
Sometimes, after a major flooding disaster, it’s better for a community to retreat than to rebuild. And in many cases, local governments around the United States will offer to buy up damaged properties, allowing residents to relocate to safer ground—ideally before the next flood occurs. Yet this process is notorious for taking too long.
A report released last week by the Natural Resources Defense Council found that over the past 30 years, fewer than half of buyout projects—in which municipalities apply for funding from the Federal Emergency Management Agency to acquire flood-damaged homes—reached closure in under five years.