tag:blogger.com,1999:blog-2830084253401570472.post2759451890757231494..comments2024-03-28T09:22:36.967+13:00Comments on Offsetting Behaviour: An offer you can't refuseEric Cramptonhttp://www.blogger.com/profile/15831696523324469713noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-2830084253401570472.post-57204972090251011692013-02-19T22:39:21.464+13:002013-02-19T22:39:21.464+13:00Hmm, that 'scam' sounds oddly familiar.......Hmm, that 'scam' sounds oddly familiar.....Duncannoreply@blogger.comtag:blogger.com,1999:blog-2830084253401570472.post-53612753860444698342013-02-19T20:55:31.211+13:002013-02-19T20:55:31.211+13:00No particular disagreement, but a big payout could...No particular disagreement, but a big payout could discourage the emergence of that market. On the other side, I would fully expect that any insurance offered would wind up being a scam: if the government says you can't build on the land, then the insurer says they could remediate for $10k and only pays out on that basis, and the government forbids them from remediating....Eric Cramptonhttp://offsettingbehaviour.blogspot.com/noreply@blogger.comtag:blogger.com,1999:blog-2830084253401570472.post-52402714687514738192013-02-19T19:17:41.768+13:002013-02-19T19:17:41.768+13:00I don't think there has been an official annou...I don't think there has been an official announcement yet on the red zone future, however the first block of land in Kaiapoi has been cleared and grassed, so hopefully it points the way for the rest of the red zone: http://www.stuff.co.nz/the-press/news/christchurch-earthquake-2011/8154872/Grass-all-that-remains-of-neighbourhood.<br /><br />GIven that the general consensus is that residential land is not easily insurable (if it was I'd expect the standard insurers to offer packages that covered the land that is not covered by EQC) and that the government is pretty much forcing you to sell up, I can't see how the government can claim a moral hazard would exist if they paid the section holders the RV.Duncannoreply@blogger.com