“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.

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