Underwater Assets

“One property in Virginia Beach has flooded 52 times — including four floods in 2020 and another two in 2021 — with total payments amounting to $784,967. Another property on the Outer Banks of North Carolina has flooded 44 times, with payments totaling more than $2.2 million. There are 30 properties that have flooded at least 30 times, the data shows.” These are extreme cases. But extreme weather is making them less so, and as with the climate in general, citizens and Congress don’t seem to be getting the message (even if insurance companies are). WaPo (Gift Article): Thousands of U.S. homes have flooded over and over again. Here’s where.