The market's ability to cope with storm-related risk partially depends on whether this risk is reflected accurately in house prices. We assess the degree to which these prices reflect storm-related risk versus amenities, and how storms change this relationship, with a statistical model that uses an objective procedure to choose among nearly one thousand variables that may affect house prices in the Florida Keys before and after Hurricane Irma. Results suggest that house prices are determined largely by amenities. Storms increase the importance of features related to structural defense and change their prices such that Hurricane Irma raises the price for most houses and lowers the price for others. Consequently, the expected market wide decline in prices does not appear. Furthermore, prices for features related to structural defense may not accurately reflect risk, which could increase storm-related losses and inequitable outcomes over time, and highlights the need for interventions to provide accurate signals about risk.

市场应对风暴相关风险的能力部分取决于这种风险是否准确地反映在房价中。我们评估这些价格反映风暴相关风险与便利设施的程度，以及风暴如何改变这种关系，使用一个统计模型，该模型使用客观程序在近千个可能影响佛罗里达礁岛群之前和在飓风艾尔玛之后。结果表明，房价主要由便利设施决定。风暴增加了与结构防御相关的特征的重要性并改变了它们的价格，因此飓风艾尔玛提高了大多数房屋的价格并降低了其他房屋的价格。因此，市场预期的价格普遍下跌并未出现。此外，