More than 6.5 million homes in the United States are threatened by storm surge as exposure to loss is increasing from rising seas and expanded development on coastlines vulnerable to hurricanes, according to a new study.
The research finds that those properties represent $1.5 trillion in potential rebuilding costs with the most severe effects possible in Florida, which faces up to $490 billion in damages to homes.
New York, Louisiana and New Jersey all carry exposures above $130 billion. Together, they face damages that could reach $477 billion if every home susceptible to storm surge was destroyed, according to the research by CoreLogic, a company that analyzes property values for insurers. Via ClimateWire