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> Posted by Rachel Morpeth, Analyst, CFI

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People make their way out of a flooded neighborhood after it was inundated with rain water following Hurricane Harvey.

The devastating effects of Hurricane Harvey colored headlines across the nation. Two weeks later, Houston, Texas remains partially submerged. The resulting financial damage will likely exceed that of Hurricane Katrina, which struck the Louisiana coast in 2005. Harvey is taking Katrina’s title as the most catastrophic storm in America’s history. A Politico headline, however, poignantly suggests another message that perhaps we should all be taking away: “Harvey Is What Climate Change Looks Like.” Harvey is classified as a “500-year flood,” meaning a flood of this magnitude has a 1-in-500 probability of occurring in any given year. Yet this is Houston’s third 500-year flood in three years. Harvey’s successor, Hurricane Irma, has also caused death and devastation, while heavy flooding in South Asia has resulted in the deaths of over 1,200 people across India, Bangladesh, and Nepal.

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