House market crash: 'Big Short' investor says flooding may cause 20% drop

found that the market may be already overvalued by $200 billion on account of flood risks — a factor that is oftentimes not priced in.

Home owners may also not be sufficiently informed about such hazards, putting them at risk of suddenly seeing their properties fall in value after purchasing a house. "When you buy a home, one of the most important considerations is the cost of maintaining that home and I think so many important decisions are made based on that," Burt said.

The study, authored by researchers from a number of organizations, including the Federal Reserve, also noted that annual residential property damage could exceed $32 billion. The average annual loss could grow by 26% by 2050.

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