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Climate risks may trigger the next housing crisis

Climate risks may trigger the next housing crisis

Climate change is making U.S. homes riskier investments, as rising insurance costs signal a looming housing bubble that could devastate the economy.

Zoë Schlanger reports for The Atlantic.

In short:

  • Home insurance premiums are climbing nationwide due to increasing climate risks like wildfires and floods.
  • Experts warn that home prices don’t reflect these growing risks, leading to a potential housing bubble.
  • If this bubble bursts, it could cause widespread economic damage, especially in vulnerable regions.

Key quote:

“We’re in a bubble, and whether it deflates slowly, causing some economic pain, or pops suddenly, shocking the country’s economic system, will come down to policy choices that governments make now.”

— Jesse Gourevitch, an environmental economist at the Environmental Defense Fund

Why this matters:

With climate-related disasters becoming more frequent, homeowners face increasing financial risks. Addressing these challenges now could prevent a catastrophic economic collapse in the future.

More: People are moving to risky areas despite climate dangers

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Newsletter
Rising insurance costs leave more homeowners uninsured

Rising insurance costs leave more homeowners uninsured

A growing number of homeowners are opting out of insurance as policies become more expensive and climate-related disasters increase.

Patrick Cooley reports for The Washington Post.

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Photo by Kostiantyn Li on Unsplash

As climate shocks grow, lawmakers investigate insurers fleeing risky areas

Faced with growing losses from hurricanes, floods and wildfires, major insurance companies are pulling out of California, Florida and Louisiana — a shift that threatens to undermine the economies of those states.

home insurance rates

More Americans find it difficult to afford home insurance as climate change disasters drive rate hikes

A growing number of Americans are finding it difficult to afford insurance on their homes, a problem only expected to worsen because insurers and lawmakers have underestimated the impact of climate change, a recent report said.

More Americans find it difficult to afford home insurance as climate change disasters drive rate hikes

A growing number of Americans are finding it difficult to afford insurance on their homes, a problem only expected to worsen because insurers and lawmakers have underestimated the impact of climate change, a recent report said.

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Government shutdown may hurt home sales in flood-prone areas

Congress funds a flood insurance program that many home buyers in risky areas rely on. The money is about to run out, a real estate trade group warned.
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home insurance climate meltdown

How climate change could cause a home insurance meltdown

It's increasingly expensive and difficult to get home insurance, as losses rise from climate-driven disasters such as wildfires and hurricanes. And the solutions aren't always politically popular.
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