Waterfront property

What is it about living near water that's so attractive?  In the past it was easier to understand.  Waterways were sources of power for milling and early manufacture.  And oceans and rivers were transportation routes.  People lived near water probably without thinking too much about it.  They were simply living close to their work.  But why now when we have so many alternatives to water power and water-based transportation?  Nearly everywhere it seems developers push to offer more waterfront residences, local governments anxious about tax revenues approve them, and and people buy them, both as first and second homes.

And then come hurricanes and floods.  But somehow these disasters seem to have little effect on the waterfront development machine.  These thoughts come from reading a couple of recent New York Times articles.  One, on high water levels and flooding along the Danube in Austria and Hungary, noted that part of the reason for record high water levels was the reduced ability of river flood plains to absorb it. 

A Budapest neighborhood,  June 9, 2013. © Reuters/Laszlo Balogh

It cited a study from the Hungarian national water authority reporting that "the decreased drainage capacity of the Hungarian flood protection system was due largely to increased building on former floodplains along rivers."

The other was an article today on new warnings of risks posed to New york City from climate change, especially rising sea levels.  The City report noted that already some 398,000 people live within the 100-year flood plain.  But, rather than seeing that number reduced, the report expects it will more than double over the next 35 years or so.  It seems that mermaids' fatal siren songs are now sung by real estate developers.