N.J. Rep. Calls For Federal Purchase Of Homes In Storm-Prone Areas

Posted by Orb Staff on November 15, 2012 No Comments
Categories : Residential Mortgage

12755_220px-frank_pallone_official_portrait_c112th_congress N.J. Rep. Calls For Federal Purchase Of Homes In Storm-Prone Areas A New Jersey congressman has called on the federal government to purchase homes that are likely to be in the path of destructive storms created by global warming.

According to a report in TheHill.com, Rep. Frank Pallone, D-N.J., made his request during comments delivered on the floor of the House of Representatives. He noted the property damage created in his state by Hurricane Sandy as evidence that more aggressive federal intervention is required.

‘We have to look at, in some cases, buyouts,’ Pallone said. ‘When, in other words, people have said, 'Look, we can't do this every two or three years, and so can we have the government buy our home, or â�¦ what's left of it.’

Without citing scientific evidence to support his claim, Pallone stated that the severity of Hurricane Sandy and a nor'easter that followed a week after the hurricane was the result of global warming.

‘I have no doubt these more severe and frequent storms are a consequence of climate change,’ he said. ‘I've been around 60 years, and I've never seen a storm like this. Nobody has. They say it's the 500-year storm. Well, I'm afraid that the 500-year storm is now a 10-year storm. And the nor'easter that we would get every 20 years is going to happen every year.’

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