ft.com
Faisal Mairaj knew he was buying a house in a flood zone when he purchased a rental property in Manville, New Jersey, in 2016. But it seemed a chance worth taking: according to the US Federal Emergency Management Agency, the risk of severe flooding was only 1 per cent a year. Five years later, Hurricane Ida hit. “Ida was really bad — there was over 6 foot of water in the house,” Mairaj says. Manville, a former manufacturing town of about 11,000 at the confluence of the Raritan and Millstone ri…
9 months ago