It was slightly prescient that on September 10th, CoreLogic posted on their website an article on the impact natural disasters have on delinquency rates in general.

The initial impact is felt way before the storm or disaster hits: if it is with housing stocks, they go lower. If it is with Home Depot or Lowe’s, they go higher. In any case, the impact upon the local and general economy is felt long after the event occurs. These catastrophic events have a significant impact not only upon the hard structures of communities such as houses, land, commercial buildings, highways and such, but they also have the effect of displacing people, families, students, workers and businesses. 

What is also felt and compounded by the emotional trauma of the storm or earthquake is the disruption to a family’s regular stream of income and payments. If a homeowner has a two-family house, they not only potentially have a loss of income from the job but also the lost of rental income from their tenant who is no longer able to occupy the premises. It is characterized by the word – disruption!

According to the CoreLogic post, after the 3 hurricanes hit the U.S. – Harvey, Irma and Maria – serious delinquency rates tripled. Wildfires in California also saw serious increases in delinquencies by over 50% of the current rate.

With the oncoming Hurricane Florence, there will be serious damage done; it will be catastrophic to some towns, and to lesser degrees events that will never be forgotten.