Real estate values nationwide could drop more than a trillion dollars across the U.S. over the next 30 years as climate change transforms the housing market, leading more Americans to move from areas prone to weather disasters, a new analysis has found. Weather disasters refers to increasingly frequent events such as sea level rise, intensifying heat waves, droughts, and floods, rather than the tornadoes and snowstorms seen in central Wisconsin.Researchers from climate analytics firm First Street published the report Property Prices in Peril, categorizing neighborhoods across the U.S. based on vulnerability to climate change. First Street thinks the value of real estate will decline by over $1 trillion by 2055 in part because many people will leave big parts of the country that are now experiencing growth, and partly because property values will have to adjust downward to compensate for higher insurance costs...
Share this article on you social outlets
Our Sponsors
- - Volume: 25 - WEEK: 7 Date: 2/14/2025 3:23:45 PM -