Flooded with New Information: Who Pays When Flood Risk Is Revealed?, with Jesse Gourevitch

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 these changes to flood maps, homebuyers in flood-prone areas tend to have higher incomes and are less likely to be Black or Hispanic. Gourevitch discusses what these findings could mean for disparities in flood exposure across different socioeconomic groups. References and recommendations: “Who Is Government? The Untold Story of Public Service” edited by Michael Lewis; https://www.penguinrandomhouse.com/books/788713/who-is-government-by-edited-by-michael-lewis/ Subscribe to stay up to date on podcast episodes, news, and research from Resources for the Future: https://www.rff.org/subscribe/