Expert: Home prices are dwindling as flood insurance rate hikes loom

10/24/2013 | Bloomberg Businessweek

Falling home prices in flood-prone areas across the U.S. are resulting from mandatory rate increases under the National Flood Insurance Program, says Miami real estate agent Moe Veissi. Support to delay the increases is growing among governors and consumer groups, but some research groups are calling on Congress to enforce the higher rates. Increasing rates for properties with the greatest risk is an appropriate way to improve the NFIP's finances, R.J. Lehmann of the R Street Institute said in a statement.

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