F
lorida is leading the nation in building development in high-risk flood areas, despite increasing storm and flooding risks. Between 2019 and 2023, the state saw a staggering 77,000 new buildings constructed in vulnerable areas, more than any other state.

    This trend isn't unique to Florida; Texas and California are also building in high-risk zones, with 63,000 and 21,000 properties respectively being built during the same period. Across the US, nearly 300,000 buildings have been constructed in harm's way, accounting for 20% of all new construction over four years.

    The population in the West and South has surged by over 9 and 10 percent respectively from 2010 to 2020, outpacing national growth rates. However, insurers are facing rising losses due to recent hurricanes causing $50 billion in damages. As premiums skyrocket and companies retreat from high-risk markets, homeowners are scrambling for coverage.

    Experts warn that building in high-risk areas exacerbates the problem, despite developers insisting they've considered the risks and stricter building codes helping to limit damage. The reality on the ground tells a different story, with storms and disasters continuing to rack up staggering costs.