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At no other point in recent history have images of nature's
destructive force filled newspapers, TV screens, and social
media pages as they do today. Nor have they been seen at
such frequency and intensity. ese disasters are life-changing
events that force victims to rebuild their lives in the wake of
the damage.
From wildfires in California and tornadoes
in the South to hurricanes in the East, natural
disasters are accompanied by substantial costs
for governments, businesses, and individual
residents, with larger catastrophes like
Hurricane Katrina and Harvey resulting in
losses amounting to billions of dollars.
As of October 8, 2021, there were 18
weather disaster events with losses exceeding
$1 billion each in the United States. Beyond
these large, widely publicized events were
dozens of smaller-scale disasters that were just
as disruptive to communities and residences.
Even though the government picks up a
significant part of the tab through state and
federal funds, the costs of natural disasters
are borne most acutely by individual property
owners. ere's growing concern about
the possibility of climate change further
compounding the crisis, negatively impacting
the housing and mortgage markets.
Now, perhaps more than ever, you need a
disaster preparedness strategy. Here, it's best to
partner with a proven disaster restoration firm
to speed up the recovery process.
Feature By: John Thomas
THE STORM
AFTER THE
STORM
How does property loss as a result of natural disasters impact delinquency rates?
