"Climate Change Threatens Nearly Half of U.S. Homes: Experts Urge Consideration in Home Shopping"

1 min read
Source: CBS News
"Climate Change Threatens Nearly Half of U.S. Homes: Experts Urge Consideration in Home Shopping"
Photo: CBS News
TL;DR Summary

A new analysis by Realtor.com reveals that nearly half of all U.S. homes, totaling roughly $22 trillion in residential properties, are at risk of severe or extreme damage from climate change-related factors such as flooding, high winds, wildfires, heat, and poor air quality. This poses a threat to home prices, insurance costs, and the stability of the housing market, with 36 million homes facing rising insurance costs and reduced coverage options. The impact of climate change is not limited to coastal or mountainous regions, as inland states are also experiencing increased insurance premiums due to extreme weather. Additionally, over the next 30 years, 18% of homes will be at risk of damage from hurricane-strength winds, and more than 3 million Americans have already relocated due to growing flood risks.

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