Real Estate & Property Law

EARTHQUAKE COUNTRY - Do You Know Where You Live?

How many of you think you don?t live in earthquake country? The CEA considers the entire state of California to be "Earthquake Country".

Well, it is scary to think about ?the big one?. But if it happens, you will wish that you had been more prepared. An article in the works about ?The Hayward Fault? suggests that it might be ?America?s Most Dangerous? [fault]. To see the preview news article, go here: http://www.usgs.gov/newsroom/article.asp?ID=1899. The final article will be released soon at http://www.cat-risk.com.
So is it time to prepare yet? I would say that is a definite yes. If you visit the website address above and read the entire article, you will see what kinds of things need to be done to prepare. And, maybe its time again to think about earthquake insurance(?). You may be the judge of that. On that subject, visit www.californiacondoguru.com for many articles on earthquake insurance - and whether to buy or not to buy it.

Here are excerpts from the news article about the Bigger Article coming soon.

______________________________________________

?An earthquake of M6.8 or greater on the Hayward Fault, in the heart of the San Francisco Bay area, is increasingly likely. The last major earthquake on the Hayward Fault was in 1868, 140 years ago: research by the U.S. Geological Survey (USGS) and others indicate the past five such earthquakes have been 140 years apart on average. In marked contrast to Hurricane Katrina where uninsured losses were approximately 60 to 70 percent of total economic losses, more than 95 percent of projected Hayward Fault earthquake residential losses and 85 percent of commercial losses will be uninsured.
...
'Bay Area residents, businesses and local governments need to take action now to reduce future losses. ... Public and private organizations have already invested over $30 billion to retrofit or replace vulnerable buildings and infrastructure, but more needs to be done,' said Tom Brocher, seismologist with the USGS. Until the Bay Bridge and BART undergo major retrofits, they remain vulnerable to earthquakes and more than 180,000 daily commuters who currently use them could face having to take overtaxed alternate routes for months. Similarly, until the Hetch Hetchy aqueduct system upgrade is complete, earthquake-related activity could cut off water for 2.4 million Bay Area residents, according to a recent report by the Bay Area Economic Forum. ... "People should realize there is a possibility that they won't be able to drive home from work or pick up their children from school," ... A Hayward Fault earthquake could close 1,100 roads, including 900 in Alameda County alone ... Oakland and San Francisco international airports and nearly all the region's port facilities are built on materials prone to earthquake damage. As a result, the capacity to deliver the goods needed to support recovery would be significantly diminished."

You should definitely read the Article.

Full post as published by California Condo & HOA Law on March 23, 2008 (boomark / email).