Sure, people who build in floodplains or on the coast shouldn't be surprised when disaster happens. Nor should they expect the govt to bail them out, except that it will. 
But a lot of folks (see Queens, for example) have been their for many decades and could not have foreseen global warming, rising sea levels and more volatile weather that is resulting from climate change. This is a warning call to all, however - storms will be worse, will be more frequent, and the tolerance for public funding of private folly has limits.
Or maybe we'll invest in infrastructure- most major east coast cities are on the water, if we're willing to protect far smaller communities along rivers and smaller cities like new Orleans, then I'd expect that you'll see more money poured into the North East if this starts becoming common.
