“Sean Becketti, the chief economist at Freddie Mac, warned in a report last year of a housing crisis for coastal areas more severe than the Great Recession, one that could spread through banks, insurers and other industries. And, unlike the recession, there’s no hope of a bounce back in property values.”
If the NFIP is not reformed the ramifications of the exorbitant rise in flood premiums “will make the 2007 housing bubble look like a walk in the park.”
This article is attributing the loss of home values in sea level rise. But the rise in Flood Premiums is what is truly devaluing properties.
Read the full story below:
Like this article? Chip in $5