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Hurricane floods may cost Texas billions after Mexico’s luck

Damage from Patricia, the strongest hurricane ever measured in the Western Hemisphere, may cost the U.S. billions from floods, even after the storm spared the largest cities in Mexico.

By Sonali Basak | Updated on October 25, 2015
The rain-swollen Trinity River is seen with the city skyline in the background Saturday, Oct. 24, 2015, in Dallas. Southeast Texas was bracing for heavy rain late Saturday and into Sunday as the remnants of Hurricane Patricia combined with a powerful storm system that's been moving across Texas, flooding roads and causing a freight train to derail. (AP Photo/Tony Gutierrez)

(Bloomberg) — Damage from Patricia, the strongest hurricane ever measured in the Western Hemisphere, may cost the U.S. billions from floods, even after the storm spared the largest cities in Mexico.

Flooding in Texas may lead to more than $3 billion in losses, though it’s too early to project the extent of damages, according to Chuck Watson, director of research and development at Kinetic Analysis Corp. Losses in Mexico are likely to be less than $2 billion, he said.

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