Buyer beware: single-family homes in floodplains—almost 4 million U.S. homes—are overvalued by nearly $44 billion collectively or $11,526 per house on average, according to a new Stanford University-led study. The study, published in Proceedings of the National Academies of Science, suggests that unaware buyers and inadequate disclosure laws drive up financial risks that could destabilize the real estate market. The threat is likely to grow as climate change drives more frequent extreme weather.
Click here for original story, Researchers reveal that homes in floodplains are overvalued by nearly billion
Source: Phys.org