Research published today by the First Street Foundation (a research and technology nonprofit) shows that FEMA flood maps underestimate the risk to homes/businesses by 67%. While this doesn't have a direct impact on home prices today, it puts a significant amount of data in the hands of consumers which could inform (1) home purchase decisions, (2) price negotiations, and/or (3) flood insurance. I found the comparison between FEMA maps and First Street's data particularly eye-opening; especially in areas of the country that wouldn't immediately come to mind when you think of flood risk. Genuinely interesting stuff! What does BP think? What's the long-term impact? How do you mitigate for this if you're in a newly defined "high-risk" area? Does flood risk become a new line item on your deal analysis?

Source (Bloomberg article): https://www.bloomberg.com/graphics/2020-flood-risk-zone-us-map/?srnd=premium

Source (Flood Factor tool): https://floodfactor.com/