Real Estate

Climate change has cost the U.S. billions of dollars in flood damage


Firefighters ride a boat beneath an underpass while conducting search and rescue after heavy rain resulted in flash floods in Washington, DC, U.S. September 10, 2020, in this still image taken from video provided on social media.

@DCFIREEMS | via Reuters

Intensifying rainfall fueled by climate change has caused nearly $75 billion in flood damage in the U.S. in the past three decades, Stanford University researchers confirmed in a new study Monday.

The findings, published in the journal Proceedings of the National Academy of Sciences, shed light on the ongoing debate on how climate change has impacted growing costs of flooding and the heightened risk homeowners, builders, banks and insurers…


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