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Commercial real estate faces $13.5 billion in flood damage in 2022: Report
A satellite image shows TD Bank Ballpark submerged in flood, after Hurricane Ida swept through the Bridgewater Township in New Jersey, September 2, 2021. Maxar Technologies | Handout via Reuters The commercial real estate industry faces an intensifying threat from flooding, which is likely to lead to billions of dollars in increasing costs, a new study says. Approximately 730,000 retail, office and multi-unit residential properties face an annualized risk of flood damage in the United States. The structural damage from flooding is projected to cost $13.5 billion in 2022, increasing to over $16.9 billion by 2052, according to the First Street Foundation, a nonprofit research and technology group, and global…
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Real-estate brokers brace for ‘flood’ of wealthy buyers from overseas
Wealthy true-estate potential buyers from overseas are envisioned to descend on the nation’s luxury housing markets Monday, offering a next enhance to desire for substantial-priced residences and mansions. The U.S. will carry the travel ban on about 33 countries for vaccinated readers, easing limitations that prevented most international authentic-estate potential buyers from entering the nation to check out and purchase properties. Buyers from Europe, China, Brazil, and India will now be ready to enter the U.S. for the to start with time in 20 months. Brokers in cities well-known with the abroad wealthy — New York, Miami, Los Angeles — say they have a very long record of showings scheduled…