It's certainly the case that more money needs to be spent on flood defences, but I think this type of measure would be best applied on new builds. As tickmike says, there are plenty of other places where water can penetrate; in my house, for example, the water would simply come up through the floor.
Really, I think, trying to keep water out from individual houses is tinkering with the problem rather than dealing with it. Broader measures need to be taken to stop rivers overflowing and to divert flood water away from those places where overflowing can't be stopped. But in cases like the present one we may just have to accept that some places will flood and we can't stop it, so we have to adapt. Apparently the water in some areas was 24 feet above its normal level, and it would take some mighty defences to stop that.