Sign up for our daily briefing

Make your busy days simpler with the Axios AM and PM newsletters. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to the Axios Closer newsletter for insights into the day’s business news and trends and why they matter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios Pro Rata

Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with the Axios Sports newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with the Axios Des Moines newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with the Axios Tampa Bay newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Austin news?

Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Atlanta news?

Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Philadelphia news?

Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Chicago news?

Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top DC news?

Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Eniola Odetunde/Axios

Nearly 70% more properties in the U.S. are at substantial risk of flooding compared to government estimates, new peer-reviewed analysis shows.

Why it matters: Increased flooding, including from sea level rise and intensifying rains, is one of the clearest and most expensive impacts from rising global temperatures.

Driving the news: The data will soon feed a new feature on Realtor.com that displays flood risk rankings of nearly every U.S. home. It's part of an initiative by First Street Foundation, a nonprofit research and technology firm.

  • You can search now for your home now on FloodFactor.com, a website run by First Street, which is backed by private-foundation money.
  • Realtor.com plans to integrate the data soon on its website, though it doesn't have a specific launch date yet, a spokeswoman said Sunday.

What they’re saying:

“There are millions of Americans who have substantial flood risk and have no idea and now they’ll be able to access that ... Having that data available will change the perspective of flood risk in this country. It now makes it meaningful and personal.”
— Matthew Eby, founder and executive director, First Street Foundation

Where it stands:

  • The Federal Emergency Management Agency, which manages America’s flood risk for the government, classifies 8.7 million properties as facing substantial risk from flooding.
  • First Street’s data shows 14.6 million properties.
  • That’s six million households and property owners who the organization says have “underestimated or been unaware of their current risk.”
  • The discrepancy exists, the group says, because it uses more up-to-date climate data, analyzes precipitation as a standalone risk and includes areas FEMA has not.

How it works:

  • The areas with the largest newly revealed risk include large swaths of the Midwest and inland Western states that face risk from rain or river flooding. FEMA's traditional focus has been coastal areas. (Check out the chart on page nine of its report.)
  • Still, the risk is objectively larger for coastal states and grows more quickly in those regions out to 2050, as you can see in the graphic below.
  • That’s because rising sea levels and coastal storms grow more intense more quickly — fueled by a warmer atmosphere and sea surface temperatures — compared to inland precipitation events, according to Jeremy Porter, director of research and development at First Street.
Adapted from First Street Foundation; Chart: Naema Ahmed/Axios

The intrigue: Every property in the U.S. — some 142 million — will receive a “Flood Factor” score from 1 to 10, based on its cumulative flood risk over a 30-year mortgage, and will be included on an interactive tool, FloodFactor.com, hosted by First Street.

  • Some companies have proprietary models that are similar, but nothing exists like this that’s publicly available and that will be attached to a consumer-facing service like Realtor.com, First Street officials say.

Yes, but: Witold Krajewski, a hydrology professor at the University of Iowa who is part of a panel of outside experts reviewing the analysis, said users should keep in mind the amount of uncertainty inherent in any dataset as comprehensive as this. "As long as people approach it with caution, this can be very useful," he told Axios.

  • One specific shortcoming of the model for now is that it doesn’t account for current and potential future adaptation measures property owners may take, such as building ever-higher seawalls or more levees. First Street experts intend to incorporate that into the data over time.

What’s next: First Street plans to sell its data to for-profit firms, such as those that have already expressed interest from the insurance and real-estate sectors. This will help fund parallel models they plan to launch on other climate-driven weather phenomena, such as heat and drought.

Go deeper:

Editor’s note: The name Federal Emergency Management Agency was corrected.

Go deeper

Why the real estate boom could keep going for years

Illustration: Aïda Amer/Axios

Even after reaching all-time high average prices and sales numbers not seen since the height of the 2000s boom, the housing market still has lots of room to run, experts say.

What's happening: There were fears in late 2019 and early this year that price levels had outpaced income growth and become unsustainable — but record-low mortgage rates and promises by the Fed to keep U.S. interest rates at zero through at least 2023 have lit a new fire under the market.

Updated 3 hours ago - Politics & Policy

British national named in Colleyville synagogue standoff

A law enforcement vehicle sits near the Congregation Beth Israel synagogue on Jan. 16. Photo: Brandon Bell/Getty Images

British national Malik Faisal Akram took four people hostage at a Texas synagogue outside Fort Worth on Saturday, the FBI said in a statement.

State of play: Authorities had initially declined to release the name of the 44-year-old suspect or identify the hostages, all adults, though police chief Michael Miller confirmed that one of those held was Rabbi Charlie Cytron-Walker, who leads the congregation.

Updated 3 hours ago - Politics & Policy

Omicron dashboard

Illustration: Brendan Lynch/Axios

  1. Health: Concerns grow over CDC's isolation guidelines — Experts warn of more COVID-19 variants after Omicron — WHO recommends 2 new treatments — What "mild" really means when it comes to Omicron — Deaths are climbing as cases skyrocket.
  2. Vaccines: America's vaccination drive runs out of gas— Puerto Rico expands booster shot requirements— Supreme Court blocks Biden's vaccine mandate for large employers.
  3. Politics: Vivek Murthy calls SCOTUS vaccine mandate block "a setback for public health" — Focus group says Biden weak on COVID response, strong on democracy
  4. Economy: America's labor shortage is bigger than the pandemic— — CDC COVID guidance for cruise ships to be optional starting Saturday — The cost of testing.
  5. States: West Virginia governor feeling "extremely unwell" after positive test — Youngkin ends mandates for masks in schools and COVID vaccinations for state workers — America struggles to keep schools open
  6. World: Beijing reports first local Omicron case weeks before Winter Olympics — Teachers in France stage mass walkout over COVID protocols.
  7. Variant tracker