Re: It\'s a shame about my street
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HOA wouldn't necessarily solve the problem either. What if instead of threatening to flood just my street, the river threatened to flood an entire county? I really doubt that such massive HOAs would ever exist. Or what if the area threatened by the flood subsumed several different HOAs?
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It seems very likely HOAs would have contracts over any type of scenario that could involve multiple HOAs.
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I addressed HOAs briefly in an edit. Regardless, my main point was not to prove free rider problems are 100% insurmountable without coercion,
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That would depend on your defintion of insurmountable, but I suppose I agree.
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but that Borodog's post was intellectually dishonest for just completely writing off the issue with one little anecdote.
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If I'm not mistaken he later on goes into detail with TomCollins on alternative solutions (I'm going on memory though, that might have been a different thread).
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And fine, let's say the probability of flooding was 10%. Insurance would still have been -EV at the time we would have purchased insurance, unless the insurance company had mistakenly based their rates on a lower probability.
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That doesn't make sense. Insurance rates take into consideration the chances of the event in question.
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