Wet basements are caused by either water leaking through stone walls, cracks in walls or foundations, exposed reinforcement bar, bulkhead entrances or window wells. Basically, any water seeping above floor level and dripping onto the basement floor. As is the case in many New England neighborhoods, a high water table and hydrostatic water pressure are to blame. Which means that water is rising under your basement floor until it reaches the point that it pops up on to your floor. Often times this water first appears at the seams where the floor meets the wall, or maybe through an old crack in the floor.