Houston’s economy will suffer a significant and perhaps unprecedented blow from Tropical Storm Harvey. But economists project that unlike New Orleans following Hurricane Katrina, Houston’s resurrection is nearly certain. By some estimates, Harvey could be the most expensive U.S. storm ever. Kevin M. Simmons, a disaster economist at Austin College, estimated that $145 billion in property is at risk of being damaged.

Source: Wall Street Journal August 30, 2017 09:22 UTC