Moody’s Analytics projects loss in southeast Texas to be between $51 billion and $75 billion,with home and vehicle damage estimated at $30 billion to $40 billion. However, total losses could continue to rise as the storm moves into Louisiana. According to [Warren] Buffett, if those uninsured losses top $150 billion, there will be noticeable effects on the economy. “I don’t think it would be a full percentage point for a year or anything like that. But it has a real effect. It destroys wealth. If there’s $150 billion, or something, of uninsured losses that’s real wealth,” Buffett said on CNBC’s Squawk on the Street.
GSE Report One
DISRUPTION IMPACT BY SECTOR