US$1 trillion time bomb ticks in housing market

US homeowners’ wildfire and flood risks are underinsured by $28.7 billion a year.Photographer: David McNew/Getty Images

CASSANDRAS seldom get opportunities to be right about two disasters. Even the original Cassandra scored no notable victories after predicting the fall of Troy.

But when a seer who successfully called one catastrophe warns of another coming, you might want to listen.