As sea levels and risk of flooding continue to rise in and around Houston, so do property values, insurance prices and the chances of popping a real estate bubble that hasn't adequately factored in the threat of climate change. According to a new study, property in Houston and other Texas cities is already overvalued based on flood risk. That's left experts worrying a major storm or climate change-related disaster could spur a mass exodus from hurricane-prone areas, triggering a wave of defaults that would leave many borrowers underwater on their mortgages as well as their properties. 
Texas has about $9.8B of overvalued property, a Nature Climate Change study found, using property transaction and flood risk data to calculate the overvaluation of residential property — the difference between fair market value and what the study considers an "economically efficient" price for properties at risk.The economically efficient price is one that…  Read the full story here. | 
