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Buy out money comes from not having to rebuild over and over
Housing in Texas is relatively cheap. Think $225,000, not one million.It costs less to buy the house once than rebuild it three times. If we don't save money buying it, getting it out of the subsidized flood insurance program, then we can choose not to buy it. And we only need to pay them what they owe, so they can walk away debt free, if they prefer that to staying while paying the real cost of flood insurance.