Tornado alley kicks a**. The sirens tell me it's time to grab my camera and go outside. Like bullets, they're very specific about where they hit, so the odds of being hit are very small.
Flooding is
far more destructive. We're at the confluence of the Missouri and Mississippi. The last major flood was 1993 and it decimated entire towns. The valley just 1 mile west of me was under 10 feet of water for months.

That private athletic club to the right with the tennis courts is within walking distance of where I live.
At the time, there was nothing out there but small office buildings, an airport with mostly charter jets and private aircraft, and farms. The flooding was extensive but destruction was minimal.

Seven years ago they built a new levee and zoned the area for retail development. Now, an Aston-Martin, Bentley, Lamborghini, and Rolls Royce dealer is out there as well as a Mercedes-Benz museum down the street. The longest strip mall in the country (a couple miles long) opened for business and two outlet malls are developing on the otherside of highway 40.
When/if that levee breaks, the economic disaster will be HUGE. [Cue Led Zeppelin]
Tornadoes are weaksauce compared to floods and hurricanes. Tornados are like going to the city on a Friday evening and possibly getting mugged. Hurricanes and floods are like the '67 Detroit riots.
Twisters get all the headlines and scare the crap out of people because seeing a cone twisting on the ground at a bajillion mph is far more exciting than looking at things that are submerged.