tom mihalek/Reuterstom mihalek/Reuterstom mihalek/Reuterstom mihalek/Reuterstom mihalek/Reuterstom mihalek/ReutersFlooding Risk Knocks $7 Billion Off Home Values, Study Finds Flooding has erased nearly $7 billion in value for homeowners in New York, New Jersey and Connecticut since 2005, a new study finds. Flooding Risk Knocks $7 Billion Off Home Values, Study Finds Greater New YorkFlooding Risk Knocks $7 Billion Off Home ValuesFlooding has erased nearly $7 billion in value for homeowners in New York, New Jersey and Connecticut since 2005, a new study finds.