Hacker News new | ask | show | jobs
by pc86 1019 days ago
Why should we buy them out? Nobody forced them to buy beachfront property in the first place. If the property ends up being abandoned, it's abandoned, and the owner should lose their investment.

You're acting like a buyout is inevitable when it's not. The last thing we should do as a society is a multi-hundred-billion / trillion dollar buyout of beachfront hotels and luxury property.
2 comments
ryandrake 1018 days ago
> You're acting like a buyout is inevitable when it's not.

The wealthy beachfront property owners will point the media's cameras at the also-destroyed properties of the poor and elderly in the area, saying "How can the USA let these poor people lose everything!" We, the stupid taxpayers, will fall for it and bail everyone out.

link
kyleee 1018 days ago
I agree in an ideal world; but in the real world there is a 0% chance Obama is taking a loss on his Martha’s Vineyard property.

What the perso you are responding to is saying is that we should start in incentivizing people out of such properties now versus it happening over a longer period at a higher cost. Either way some people are going to probably have to move so we may as well get ahead of it

link