Cost of buying out flood-prone homes: $5B and rising

May 27, 2019 - 11:27 am

Over the past three decades, federal and local governments have poured more than $5 billion into buying tens of thousands of properties that are susceptible to flooding.

An analysis of federal data by The Associated Press shows those buyouts have been getting more expensive. Many of the costliest have come during the last decade after strong storms pounded heavily populated coastal states such as Texas, New York and New Jersey.

This year's record flooding in the Midwest and Plains states could add even more buyouts to the queue.

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