Disaster Capitalism: More Homes Being Constructed In Risk Zones Than In Safe Areas

When Hurricane Sandy’s floodwaters ravaged the first floor of Frank Cattie’s Ocean City, N.J., home, he assessed the damage, filed a flood insurance claim, and braced for the financial impact.

But he was certain of one thing: He would not give up his slice of Shore heaven.

Cattie and his wife, Susan, who live in Jenkintown, bought a condo in Ocean City in 2000, then traded up for a nearly 100-year-old duplex a block from the bay in 2003.

The house on North Street was a refuge — a place to read a book in the sun, relax at the beach, and share laughs with their two children and grandchildren.

Then Sandy’s October 2012 flooding brought more than two feet of water inside and the first floor was ruined.