HousingWireHousingWire
Effects from deadly flooding in Eastern Kentucky were made worse this past weekend as a storm system brought heavy snow and wind into already devastated communities. It will have a large impact on real estate for years to come, Kentucky real estate agents told HousingWire.
As of Monday, the statewide death toll associated with the disaster sat at 21, according to Kentucky Gov. Andy Beshear.
All 120 Kentucky counties reported some level of flooding the night of Feb. 14 following as much as eight inches of sustained rainfall in some areas, according to the Lexington Herald Leader.
That reportedly led to more than 1,000 emergency rescues across the next 24 hours.
“Unfortunately, we’re seeing the same people hit again, the same businesses hit again,” Lexington-based real estate agent Whitney Hahn told HousingWire, referencing deadly flooding that hit the state in 2022. “We really just got to the two-year mark of where storefronts were having new shops had come in. Of course, there’s still buildings and houses that are damaged from the last flood that are still full of mud, and it’s been debilitating for those communities. We’ve seen a lot of people come together. Our community is so strong. Everybody just sticks together.”
Beshear, a Democrat, said his state has received a disaster declaration from the White House and awaits approval of direct federal aid, adding that individual assistance through the Federal Emergency Management Agency has also been requested. It comes as rumors swirl that the Trump administration will cut disaster relief programs from HUD and FEMA.
“We haven’t heard really anything from the government as far as federal aid,” Hahn said. “We have donation sites set up at the Dollar General and it’s all free. People have donated things that can be picked up like blankets and cleaning supplies. It’s just a bunch of people neighbors pulling together doing the best they can, a lot of volunteers.”
Local reports show the 21 deaths occurring in counties including Caldwell, Clay, Floyd, Hardin, Hart, Jefferson, Livingston, Logan, Morgan, Nelson, Ohio, Pike, Scott, Washington and Warren counties.
“It wasn’t cold weather (during 2022 flooding) and the weather is just much worse now,” said Hahn. “These are our poorest communities, our oldest communities that are getting hit. There’s just really low hope right now, I guess.”
Eastern Kentucky, much of the same area now worst affected by new flooding, recorded historic rainfall amounts in July 2022, resulting in some of the worst damage the region had ever experienced.
Wayne West, owner and founder of Lexington-based The West Group Realtors, said disasters have affected statewide insurance and home transaction patterns.
“Some some companies won’t even write in certain states but in some states, like Kentucky, they’ll have you do an increased wind-hail deductible for roofs on top of your policy deductible, so everybody’s paying more for homeowners’ insurance,” he said. “It’s just the reality of of what our area is. “Obviously, I don’t think we’re in the same situation as California and Florida where companies were canceling, and you couldn’t get insurance. You can still get it but you’re just having to go to different carriers.”
West said continued struggles with housing inventory in Kentucky exacerbate market recovery struggles following modern natural disasters.
“There’s just not a lot of homes for sale and a lot of that had to do with people refinancing in 2020 and getting crazy low interest rates,” he said. “So now with the weather issues, I think it’s just going to cause more people to either make a decision; either I’m going to go ahead and bite the bullet and move or I’m going to continue to hire restoration companies to come in and do the repairs needed. The biggest issue we have is inventory levels. We’ve got plenty of buyers.”
Those interested in aiding Kentucky’s recovery efforts are urged to do so through the Team Kentucky Storm Relief Fund, which can be accessed here.
