Hurricane Season Bears Down—With 7 Million Homes at Risk and a Federal Flood-Insurance Program Set to Expire

If this summer has had you trying to get to grips with hurricane season, you’re not alone. Millions of homes across the U.S. sit in harm’s way, and the resulting damage could be in the trillions of dollars, according to a 2018 report.

Those estimates come from real-estate data provider CoreLogic and are based on forecasts from the National Oceanic and Atmospheric Administration that foresaw a 2018 Atlantic hurricane season that was “near or above normal.”

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This year, nearly 7 million homes are at risk of hurricane storm surge, CoreLogic said. That’s the same number as last year, when NOAA predicted an “above normal” season. But total reconstruction costs are forecast to be more than $1.6 trillion this year, a jump of 6.6% compared with the $1.5 trillion estimated in 2017. The driver? Higher costs for construction, equipment and labor.
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Superior Mortgage Lending LLC is a full service mortgage broker located in Las Vegas, Nevada. Our goal is to provide excellent service to you throughout the process. NMLS # 372130 Nevada License # 3582 California License # 603K964 Arizona License # 0119906 8867 W Flamingo Road STE 200 Las Vegas, NV 89147 (702)507-4170 / www.superiorml.com
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