Excerpt
SUMMARY: Despite a history of hurricanes, there were many storm victims in New York without flood insurance thinking the risk for damage was low. But after Sandy hit, many residents are faced now with huge damage bills and no idea how they'll recover. Economics correspondent Paul Solman reports from New York's Long Island.
JUDY WOODRUFF (Newshour): Now we turn to our ongoing coverage of the recovery after superstorm Sandy.
New York City officials say they will demolish about 200 homes in the outer boroughs, including some heavily damaged ones in the Rockaways. Some 200 other homes in the city were so badly damaged by the storm that they likely will be demolished as well.
As residents consider their next steps, they face questions over whether to rebuild and the role of insurance coverage.
Our economics correspondent, Paul Solman, visited the area as part of his reporting Making Sense of financial news.
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