"Getting the government out of the flood insurance business and having insurance companies determine actuarially sound premiums is the only way for homeowners, businesses, and builders to know the real risk they are assuming. If the risk is high, premiums will be prohibitive, and building will migrate to areas less prone to flooding."

"Unfortunately, the prospects for reform are low. Eliminating the National Flood Insurance Program is impossible politically. How likely are even modest policy reforms about premiums or redrawing flood plain maps to better reflect real risk? Such proposals are drowned out by politicians who score easy points by blaming the damage on climate change and passing popular rebuilding bills."

"The sad, but most likely, prospect for the near future is that taxpayers will spend hundreds of billions rebuilding Houston, [or any other prone areas], in areas prone to suffer flood and storm damage again and again."

[my addition]