Will Hurricanes Affect Mortgage Lending?
When Hurricane Ida made landfall in late August, we saw yet another example of just how destructive Atlantic hurricanes are becoming. It rained destruction (both literally and figuratively) in Louisiana, before eventually making its way up to New York City, where a dangerous amount of water was released on a city that was in no way ready for it. A lot of people died due to Ida's destruction, and a whole lot of property was damaged.
It would be easy to say that Ida was an anomaly and didn't represent the future of hurricane season in America, but the truth is that Ida is just a taste of what's coming. Inevitably, this is going to cause ripples across the real estate industry, from insurers to mortgage lenders.
Image source: Getty Images.
Source Fool.com
