Bracing for a letdown, advocates ask Congress to help needy with rising flood insurance costs
Ray Lehmann, a senior fellow at the R Street Institute, a conservative think tank that advised some lawmakers on Biggert-Waters, indicated that many people receiving subsidies might not be facing financial hardship.
He said that 65 percent of the program’s discounted properties are in counties with a median household income in the top 30 percent. In terms of home value, 69 percent of subsidized properties are in counties in the top 20 percent.
“Less than 1 percent of all subsidized properties are in the bottom 30 percent” of home values by county, Lehmann said.