Inequities in the Distribution of Mortgage Distress Following Flood Events

Low-income populations and people of color face greater exposure to natural disasters and have less capacity to prepare for, respond to, and recover from them. Although disasters can have many financial consequences, one is the potential for adverse mortgage outcomes (e.g., mortgage delinquency or default). Economists Jesse Gourevitch and Carolyn Kousky will examine how the effects of flood events on mortgage outcomes vary across race and income groups and will assess how policy interventions might mitigate default risk for vulnerable populations. They will analyze data from the Black Knight McDash dataset, the First Street Foundation historical loss dataset, and data from the American Community Survey for their study.