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Well, along those same lines, why do people re-build their homes right on the beach/coast again, after a hurricane/storm just wiped it clean.
Go figure!!
Because they like living on the beach, and they look at how long it has been since the last such devestation and figure the odds favor them being able to live out the rest of their lives in their beautiful new homes. Also, it makes some difference (less than others will argue IMHO) that the government will provide flood and other insurance to people doing this. Some of them, not many I am arguing, but some, might not do it if they had to assume the entire economic risk themselves.
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Re: Katrina Aftermath