Sunday, July 5, 2020

La. flood properties: Good/Bad news

There’s some good news in a new Flood Factor data base that indicates Louisiana's flood-prone properties are not as high as have been previously estimated (561K, but “only” 477,100). But with that positive, there’s lots of bad news from the non-profit First Street Foundation’s findings. Louisiana ranked No. 2 in the nation in terms of the proportion of properties with substantial flood risk (21.1%), behind West Virginia (24.4%), and ahead of Florida (20.5%). By 2050, a typical mortgage expiration, the number of properties considered at substantial risk of flooding will likely increase by 70% (to 809,800) statewide. That's by far the largest increase in flooding risk of any state. (Source: NOLA.com 07/05/20) https://www.nola.com/news/environment/article_2566fadc-ba5a-11ea-9291-b788cbd90904.html