2017 has had one of the most active Atlantic hurricane seasons recorded, and presumably the costliest in U.S. history based on the relatively large number of affected areas, and the intensity of the storms. A new study charted the aftereffects of Hurricanes Andrew, Katrina, and Sandy, three of the most costly hurricanes in U.S. history, to predict future housing market reactions to huge storms.
CoreLogic's study uses these historical examples to gauge the ability of a region’s housing market to recover from a hurricane. Their research concluded this depends on the size of the economic damage caused by the storm relative to the size of the regional economy. While considering the future effects on Puerto Rico, the U.S. Virgin Islands, coastal Texas, and Florida, the size of the local economy must be a major factor.
... If the history of previous catastrophic hurricanes is a guide, then the 2017 hurricanes will not reduce home values. In fact, home prices usually jump upward, at least in the short term, in areas that have been damaged by major hurricanes.
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