Severe flooding impacts US Southwest and Gulf Coast

Extreme weather across the United States has triggered significant flooding and secondary economic risks. In the Southwest, intense rainfall exceeding 130 mm has caused rivers to reach historic levels, particularly affecting the Farmington area near the Four Corners region. The flooding has impacted Colorado, New Mexico, and Arizona, leading to hundreds of evacuations and forcing residents to seek refuge on rooftops. The New Mexico National Guard has conducted aerial rescues using helicopters to save individuals trapped by rising waters, including several operations involving winch rescues.

In the Gulf Coast and Southeast, the aftermath of Hurricane Isaias has raised alarms regarding the used car market. Estimates suggest nearly 50,000 vehicles were damaged by flooding in these regions, adding to an existing pool of approximately 500,000 flood-damaged vehicles circulating in the US. Experts warn of ‘Title Washing’ fraud, where scammers purchase damaged vehicles at salvage auctions, aesthetically repair them, and transfer titles to states with less stringent documentation rules, such as Illinois or Pennsylvania, to hide their history.