By Michael S. Derby
NEW YORK (Reuters) – Homes in the New York, New Jersey and Connecticut locations face some of the most serious danger of flooding in the U.S., a report launched on Wednesday by the Federal Reserve Bank of New York stated.
One in 10 residentialorcommercialproperties in the area “are at severe threat of flooding,” the report stated, with these residentialorcommercialproperties in the leading 25% of the riskiest acrossthecountry, even when more conventional locations of threat like the southeast of the United States are consistedof.
And it’s not a issue of being too close to the sea.
“Flood danger is not simply discovered in seaside neighborhoods or in New York City,” the report stated. “Inland neighborhoods like Buffalo, Syracuse, and Newark face considerable threat from heavy rains, flash flooding, and overruning rivers,” the researchstudy stated, including “this danger hasactually grown in current years and is predicted to continue increasing.”
The New York Fed stated the report was established as part of its Community Development efforts, which focus on health, family monetary wellness and environment threat.
In the report, the bank stated that one million flooding-vulnerable residentialorcommercialproperties are home to 1.6 million hous