Comment by tgtweak

Would be an interesting relationship to explore. I think you can look at it as both cause and effect. Effect in that flooding destroys wealth and often-flooded areas will not have longstanding infrastructure or buildings - hits to the local real estate that result from flooding can affect non-flooded buildings as well. The cause could be because property and income taxes in low-income regions may be insufficient to fund infrastructure or public works that prevent or mitigate flooding and flood damage.