Heavy rains are continuing to fall on Houston as tens of thousands of homes in the city are being inundated by Harvey, a former category 4 hurricane that has been downgraded to a major tropical storm. Tropical Storm Harvey has already dropped more than two feet of rain on some areas of Texas, and it was poised to re-enter the Gulf of Mexico on Monday and make landfall again, closer to Houston, roughly two days later. In all, more than 230,000 homes on the Texas coast are at risk of damage from storm surge, according to analytics company CoreLogic. The Houston area has the largest number of houses at risk from the storm, according to Corelogic. Meantime, Harvey poses new challenges for the National Flood Insurance Program, which is already facing mounting debt.

Source: Forbes August 28, 2017 13:47 UTC