Since I have asthma, I don't do well around mold. But I think many of us are overly concerned about "toxic mold" in flooded homes because of media stories, similar to the way that "killer bees" are also blown out of proportion to their actual risk overall.

I've never lived in a flood prone area so I don't have much experience with it, and one thing which I read and that surprised me after Katrina is that flooding--even for a lengthy time--does not necessarily compromise wooden houses structurally. Sure, mold will eat up the drywall, insulation, carpets, etc. but the framing will often hold up all right. Modern plywoods are supposedly quite robust, too, but the adhesive in older plywoods (pre-1970, IIRC) don't hold up to moisture that well. Anyway, for what it's worth.