Flood Risk and the U.S. Housing Market


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As the most frequent and costliest natural disaster in the United States, floods have been predicted to cause major amounts of stress to housing markets. As of now, many homeowners are uninsured against flood damage and the ones that are only have short-term agreements, which can be very risky -- in this paper, Howard Kunreuther, PISC Advisory Board member Susan Wachter, Carolyn Kousky, and Michael Lacour-Little describe potential effects like costliness to families, ripple effects in the surrounding community, and the triggering of foreclosures in addition to suggested directions for future research and action.

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