Hurricane Michael: Real estate experts anticipate billions in storm damage
The Category 4 storm is ?the worst storm that our Florida Panhandle has seen in a century? Hurricane Michael, currently making its way across the Florida Panhandle, made landfall this morning as a Category 4 storm, having intensified significantly on its path through the Gulf of Mexico. The last-stage acceleration has raised additional concerns over potential loss of life, with the National Weather Service in Tallahassee calling it a ?catastrophic event.?
?This is the worst storm that our Florida Panhandle has seen in a century,? Gov. Rick Scott of Florida said, according to the New York Times. ?Hurricane Michael is upon us, and now is the time to seek refuge.?
Coming on the heels of Hurricane Florence, which struck the Carolinas in September, Michael hits Florida at a time when extreme weather events are on the rise in the United States. The increase in billion-dollar natural disasters has caused extensive damage to coastal real estate in the United States and strained the national flood insurance program. As residents of the Gulf Coast attempt to dodge the worst of the storm?s impact?meteorologists predict Michael will have maximum sustained winds of 150 miles per hour?analysts have already predicted this will be a costly reconstruction process for the Panhandle. Meteorologists predict storm surges of up to 13 feet in the relatively flat region, and express concerns of flash flooding above the Panhandle and regions of southeast Alabama and Georgia, which will also ...
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