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Flood Damage and Federally Backed Mortgages in a Changing Climate

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  • Congressional Budget Office

Abstract

As a result of climate change’s effects on sea levels, storms, and precipitation patterns, the risk of flood damage is expected to increase in the United States. In this report, the Congressional Budget Office estimates how much flood damage homes with federally backed mortgages are expected to face in two multiyear projection periods—one centered on 2020, reflecting current climate conditions, and one centered on 2050, reflecting the further effects of climate change.

Suggested Citation

  • Congressional Budget Office, 2023. "Flood Damage and Federally Backed Mortgages in a Changing Climate," Reports 59379, Congressional Budget Office.
    • Handle: RePEc:cbo:report:59379
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    File URL: https://www.cbo.gov/system/files/2023-11/59379-FloodDamage.pdf
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    More about this item

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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