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On uneven ground

On uneven ground

A Marine, a member of the Texas Highway Patrol and Texas State Guard escort a couple to higher ground, Houston, Texas, Aug. 31, 2017. Image credit: U.S. Department of Agriculture.

In the aftermath of Hurricane Harvey, water indiscriminately flooded the homes of Houston residents, but financial help did not pour in as equally.

Leeds School of Business researchers found that lower-income homeowners were most likely to end up in a worse financial position and at a higher risk of bankruptcy after the storm, due to unequal access to federal disaster assistance and loans.

Wealthier homeowners were more likely to have flood insurance and be able to navigate the complex requirements to file for disaster funds and loans. Residents in lower-income neighborhoods also commonly received less disaster assistance, even if they qualified for it.

鈥淚n allocating a limited pool of resources, the way we're handing it out seems to be distorted,鈥 said assistant professor of finance Emily Gallagher.

Aerial photo of Houston flooding. Image credit: USACE HQ.
Flooded Houston street. Image credit: Marines.
A house in Houston shows visible damage after flooding. Image credit: Getty Images.
Members of the South Carolina's Helicopter Aquatic Rescue Team (SC-HART) perform rescue operations in Port Arthur, Texas, August 31, 2017. Image credit: SC National Guard.
U.S. Marine Corps escorting the community on rafts. Image credit: Marines.
U.S. Marine Corps and Houston resident in Houston flooding. Image credit: Marines.
Rescuing residents from Houston flooding. Image credit: Marines.

Image credits: A Marine, a member of the Texas Highway Patrol and Texas State Guard escort a couple to higher ground, Houston, Texas, Aug. 31, 2017 / U.S. Department of Agriculture. Aerial photo of Houston flooding / USACE HQ. Flooded Houston street / Marines. A house in Houston shows visible damage after flooding / Getty Images. Members of the South Carolina's Helicopter Aquatic Rescue Team (SC-HART) perform rescue operations in Port Arthur, Texas, August 31, 2017 / SC National Guard.

Principal Investigator
Emily Gallagher

Collaboration + support
Leeds School of Business, Federal Reserve Bank of St. Louis