I love love love the ocean and bodies of water, but unless the house has concrete pillars going very deep, and is elevated "sufficiently", um no.
If the house is on a very large hill and the hill is buffered with concrete support to prevent erosion on the critical in and out of the location, then yes, but if not ... no.
We have people living in areas where we have over populated and it is unsustainable. So I will toss out another area that should work on depopulating or work on building sustainable setups.
If an area can't maintain it's own water consumption and power needs and the basics, then there are too many people living there.
In the past we believed insurance rates and other subtle financial manipulations would make people stop, but then we realized without realizing it people don't care and are only in it for themselves.
When I moved, I looked to ensure the area was safe, had good power and water and was sustainable. I found that in Northern Texas. Has it been easy financially or personally? (hell no).
But my wife and I made it work and we are fighting the good fight. What I see in cities like this which you highlight is not it. They should be wonderful places to visit and spend some time in, but to line up folks to live on the edge? Not sure that is the sane "lemming" thing to do ...