But a lot depends on how many city residents stick around after the water recedes. Much of the economic growth in the Houston region has been fueled by the influx of new residents to the area. About 42,000 New Orleans residents filed their taxes from Houston in 2006, the year after Katrina, according to an analysis of IRS data by Moody's Analytics. And many affected homeowners may not have policies from the federal government's National Flood Insurance Program, which does cover such damage. For example, only 15% of homes in Harris County, which includes Houston, have flood insurance.

Source: CNN August 28, 2017 20:37 UTC