The Daily Populous

Saturday May 1st, 2021 evening edition

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Understanding whether markets efficiently price environmental risk is critical to policy design, particularly as key climate risks change rapidly.

We conduct a nationwide analysis of the extent to which the US housing market prices information about flood risk contained in publicly available flood maps.

Using data on millions of home sales, we find that information in these maps is not fully capitalized in property values.

Lack of information appears to contribute to underpricing: More sophisticated commercial buyers and more risk-aware buyers respond more to floodplain information.

Enhanced communication of flood risk could help ensure such risk is appropriately reflected in market outcomes.

Here we measure the effect of information about flood risk contained in regulatory floodplain maps on residential property values in the United States.

Our findings indicate that houses in flood zones in the United States are currently overvalued by a total of $43.8 billion (95% confidence interval: $32.6 to $55.6 billion) based on the information in publicly available flood hazard maps alone, raising concerns about the stability of real estate markets as climate risks become more salient and severe. »

Ted Lieu Says Matt Gaetz Entitled to Presumption of Innocence, Not Committee Seat

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Representative Ted Lieu has again said that Congressman Matt Gaetz should be removed from the House Judiciary Committee immediately while he remains under federal investigation.

"Like all Americans, Congressman Matt Gaetz is entitled to the presumption of innocence but he is not entitled to sit on the House Judiciary Committee," Lieu said.

"That is a clear conflict of interest and Leader Kevin McCarthy must remove Matt Gaetz from the committee immediately," Lieu said. »

Amazon employees say you should be skeptical of Jeff Bezos’s worker satisfaction stat

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These employees told Recode that many Amazon employees do not answer Connections questions honestly because they fear their responses are not truly anonymous, and they fear retaliation if they give negative feedback.

A warehouse manager and employee also said workers often just choose the top answer to more quickly get on with their day.

Are you a current or former employee with insights on what it’s like to work at Amazon? »