Millions more U.S. homes are in danger of flooding than federal emergency planners have previously warned, and the threat to those trillions of dollars of properties is rising because of climate change, according to a new analysis
.provides detailed property-level flood risk information for the public at a time when the private sector is taking steps to prepare for the damage from floods, storms and other climate-driven disasters, in the absence of aggressive action from the federal government. POLITICO has reported that Fannie Mae and Freddie Mac, the government-sponsored enterprises that back half the U.S. mortgages,
“We're trying to democratize this data so that everyone has the same set to be able to make decisions with,” said Matthew Eby, First Street’s executive director. Experts have complained for years that FEMA has failed to consider those climate-driven changes. | Carlos Giusti/AP Photo tax revenues. FEMA delayed its Risk Rating 2.0 program, which promised more accurate flood mapping, by one year until October 2021 as concerns mounted that flood insurance premiums would spike.
Services documenting the property-by-property threats are out of reach for most Americans. Data are opaque for home buyers — 21 states have no requirements for sellers to disclose flood risk, while rules vary among the rest, according to the environmental advocacy groupWhile generally perceived as a good-faith attempt to fill in the market information gaps, the First Street’s efforts have nonetheless prompted some criticism and cautionary notes.
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