Questions loom about the Houston housing market after Hurricane Harvey dumped 9 trillion gallons of water on the city last week.
Questions loom about the Houston housing market after Hurricane Harvey dumped 9 trillion gallons of water on the city last week. Houston is the fifth-largest metropolitan area in the United States, and the housing market has rapidly expanded there in recent years.
Harvey’s aftermath puts an enormous hurdle in front of all homeowners and renters but will be a particular setback for low-income, minority families recovering from the 2008 housing bust. As policymakers consider the path to rebuilding, here are five facts to keep in mind about the storm’s impact.
(The maps below show the extent of Hurricane’s Harvey flooding in Houston, along with key housing variables. Although the flood maps indicate which areas were hardest hit, not all homes in flooded areas will suffer flood damage.)
The Urban Institute
by Sarah Strochak & Bhargavi Ganesh
September 15, 2017