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Texas’ most populous city, Houston, might not be having the best of time these days when it comes to its economy. The oil bust in 2016 and Hurricane Harvey’s devastation in 2017 have hit Houston’s economy hard. Harvey was so powerful it inflicted a loss of $125 billion to just the metropolitan area of Houston.
What made matters worse for the people living in the region was that it was not the hurricane per se but the resulting floods that caused the devastation. Why flooding devastation is worse is because most of the damage it does is not covered by insurance policies.