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Rising Sea Levels Washing Away Texas Property Values

April 23, 2019, 8:00 AM

Flooding erased nearly $76.4 million in value for Texas homeowners over a twelve-year period ending in 2017, a new study finds.

Those homes subject to tidal flooding experienced greater property value loss between 2005 and 2017 relative to those that aren’t prone to flooding, Steven A. McAlpine, head of data science at First Street Foundation, told Bloomberg Environment.

First Street Foundation is a New York-based tech nonprofit that analyzes flood risk.

The study focuses on solely on tidal flooding, sometimes referred to as “sunny day flooding,” controlling for the impact of big storms like Hurricane Harvey, First Street ...