Florida Home Values Could Fall 50% - Flood Insurance Will Rise

David Burt, was a consultant at Cornwall Capital, a firm that famously shorted the subprime mortgage market in a feat chronicled in Michael Lewis' book, "The Big Short." In recent years, he's been sounding the alarm on the widespread threat that flooding poses to the US housing market. Now Hurricane Ian, which ripped through Florida this week, killing at least 21 people and leaving tens of billions of dollars of estimated damages in its wake, could mark a turning point for both insurers and homeowners. It is predicted that FL home values could fall up to 50% due to many issues surrounding the pending rise in Flood Insurance costs for areas that have been hardest hit by the Hurricane.