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Flooded with New Information: Who Pays When Flood Risk Is Revealed?, with Jesse Gourevitch
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In this episode, host Kristin Hayes talks with Jesse Gourevitch, a new Resources for the Future fellow, about how flood-risk information affects US housing markets. Discussing an upcoming report, Gourevitch outlines changes in property sale prices and buyer characteristics following revisions to federal flood maps and updates to state requirements for disclosing flood risk to homebuyers. He and his coauthor have found that property sale prices are lower when properties are mapped into a designated flood zone or become subject to disclosure requirements. For lower-income homeowners, the declines in property value are larger than high-income homeowners relative to annual income. Following…