Katherine Hamilton
speaker
654 appearances
14 recordings
1 series
first heard Apr 2024
last heard Jan 2025
Katherine Hamilton’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · The Long-Term Financial Burden of Hurricane Recovery · 10 Oct 2024
podcast
And it's a really big shock to the system for a lot of folks.
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A lot of people have to actually leave their job for some time, which can cause people to fall behind on expenses.
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And then obviously any damage to your belongings and your house can take a huge toll.
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And the research shows that debt climbs for a lot of survivors of disasters.
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Savings tends to go down and credit scores also can go down.
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It really varies depending on the situation.
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I've heard from some people that if they have damage from both wind and flooding, for example, sometimes the flooding insurance will blame the wind and the wind insurance will blame the flooding.
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So that can limit how much coverage you get from those.
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But it's also a bigger issue for Helene specifically because a lot of the houses in Helene's path,
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We're not insured for flooding because it was more inland than a lot of people were expecting.
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And it's not a high flood risk area.
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So flood insurance isn't required in those areas.
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It can have really long-term effects.
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One of the major effects is declining credit scores.
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So on average, credit scores fell about 46 points following disasters, one study found.
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And debt also actually compounds in many cases.
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So there was one study
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paper by the Urban Institute that showed that the amount of people with debt in collections in areas where there were disasters actually continued to increase four years after the disaster.
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So we spoke to somebody named Jason Johnson.
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He is from Fort Myers Beach, Florida.
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Showing 181–200 of 654 · page 10 of 33
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