this post was submitted on 03 Apr 2024
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@No1 It's not unprecedented.
A few years ago, after a particularly bad flood, the entire town of Grantham in Queensland was relocated to higher ground: https://www.brisbanetimes.com.au/national/queensland/grantham-reborn-meet-the-little-queensland-town-that-moved-20200227-p5450g.html
If you have a town that's in a floodplain, instead of constantly needing to rebuild it every couple of decades (or less) because of floods, it can make sense to do so.
Banks and insurers look at the risk profile, and then adjust the cost of borrowing or insurance premiums accordingly.
At a certain point, it becomes far cheaper to just call in the bulldozers and rebuild elsewhere.