Here's a trillion dollar real estate market on the coasts of the United States—and it's building itself into rising levels of risk.
"In many coastal states, flood-prone areas have seen the highest rates of home construction since 2010," reports Christopher Flavelle.
That statistic is one of the findings of a new report by Climate Central, which "looked at the 10-year flood risk zone — the area with a 10 percent chance of flooding in any given year — and estimated the zone’s size in 2050."
Researchers used Zillow then to count how many homes had been built in that zone since 2010, using data from Zillow.
"For eight states, including Connecticut, Rhode Island, Mississippi and South Carolina, the percentage increase in homes built in the flood zone exceeded the rate of increase in the rest of the state," according to Flavelle.
FULL STORY: Homes Are Being Built the Fastest in Many Flood-Prone Areas, Study Finds
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City of Albany
UCLA Lewis Center for Regional Policy Studies
Mpact (formerly Rail~Volution)
Chaddick Institute at DePaul University
City of Piedmont, CA
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research