US housing market is overvalued by billions due to ignored flood risk

  • A house flooded by water due to Hurricane Ian at Stillwright Point in Key Largo, Fla, on Sept. 29, 2022. (Daniel A. Varela/Miami Herald/TNS)

U.S. homes in areas prone to floods may be currently overvalued in the range of $121 billion to $237 billion, according to a report published Thursday in the journal Nature Climate Change.