According to a recent analysis by climate-modeling firm First Street Foundation on behalf of The Wall Street Journal, the state of Florida has constructed over 77,000 new properties in areas with a high risk of flooding since 2019. This significant number of new developments in flood-prone zones surpasses all other states in the US, raising concerns about the potential impact on the housing market and property values.
Key points from the analysis include:
– Florida has built the most new properties in high flood risk areas compared to other states
– Researchers are raising concerns about the potential impact on the housing market and property values
– The construction activity highlights the risks associated with building in flood-prone zones
– Climate-modeling firm First Street Foundation conducted the analysis on behalf of The Wall Street Journal
The findings shed light on the increasing development in vulnerable areas and the need for heightened awareness and regulation to mitigate potential risks for homeowners and the mortgage industry as a whole.
You can read this full article at: https://www.housingwire.com/articles/florida-builds-77000-new-homes-in-high-risk-flood-areas/(subscription required)
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