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Wednesday, 06 September 2017 14:37

Harvey Might Have Been Fiercer Than Katrina, but its Effects Could Fade Faster

(TNS) - Almost before the rain started in Houston, economic prognosticators started trying to figure out how much Hurricane Harvey was going to cost.

The numbers kept mounting as the rainfall totals piled up. In the first few days of the storm, investment research firms estimated the total property damage at between $30 and $40 billion — not even approaching the toll of Hurricanes Katrina and Rita.

By Wednesday, Enki Research had pegged it at between $48 and $75 billion. Toward the end of the week, as the flood receded and its carnage became clear, many analysts were hailing Harvey as the nation's most destructive storm ever.