Traveling to Manila?

For Chuseok, two friends and I had planned on going to Manila for a few days. We really wanted to go to Tokyo, but as tickets were going to be almost 600,000 won for a 2 hour flight, we finally gave up that dream and decided to go Manila instead. We bought our tickets for about 450,000 won and were trying to get ourselves psyched up about Manila when.... the flood struck this week. We have been getting all sorts of reports. From some people, it's supposed to be fine, no problem. Then I heard stories of houses being swept away and family members of my mom's coworker's family having to climb up to the roof of a two story home to escape the flood waters. At this point I don't know what to think. All I know is that the forecast says rain everyday for the whole long weekend. I've already spent rainy vacations in Taiwan and Vietnam. I'm not sure if I'm willing to do it again if I can avoid it, especially because in this case, it might be a bit more than just rain. Is anyone in Manila? What should I do? I'm leaning towards canceling the trip and eating the 25% cancellation fee....