Climate change and markets moving people

The markets will move people (at least people) faster and more efficiently than governments and public policy.  From The Wall Street Journal - - Sandy's Legacy: Higher Home Prices.  From the article:

"Her sister now wants out of the Ortley Beach duplex, which sustained major water damage during Sandy. They didn't have flood insurance. To rebuild, Ms. Lafortune, 58, says she would have to buy her sister's half, demolish the place, and rebuild to code—at a cost of $500,000 or more. She says she is likely to sell."

And,

"Michael Drewniak, a spokesman for Gov. Chris Christie, says Mr. Christie believes the federal government should give rebuilding aid to second-home owners. Without help, many of them are likely to be priced out, unable to pay for rebuilding or insurance, he says.
"There is a concern from immediately after the storm that all our shore neighborhoods won't be able to return to themselves as far as character and being populated by all income levels," he says. "The Jersey Shore was never just a place for large second homes owned by the well-to-do."

If homeowners don't elevate their houses out of harm's way—in many cases by five feet or more—they are likely to face flood-insurance premiums that could double or more under a new federal law that attempts to make homeowners pay the actual cost of living near the water. New FEMA flood maps are set to put more people into higher insurance categories if their homes aren't elevated.

Increased regulatory and insurance costs will likely raise the cost of owning in the area, says Jed Kolko, chief economist at Trulia. "It could put ownership further out of reach for lower and middle income people," he says. "It's quite possible the mix of people who own homes on the shore changes.""