Climate change turns coastal property into junk bond
6 years, 10 months ago

Climate change turns coastal property into junk bond

Live Mint  

Afriend of mine who is a bit of a climate-change sceptic once challenged me with this question: If climate change is such a pressing danger, why haven’t coastal real estate prices crashed? If financial markets are even close to efficient, and if everyone knows climate change is about to flood the coasts, then it stands to reason that buyers would be shunning any real estate in the path of rising sea levels. But this explanation, although true in general, doesn’t explain why there haven’t yet been at least a few well-publicized stories about coastal real estate prices crashing in specific areas. So for the next few decades, climate change probably won’t send coastal real estate prices crashing, but it does create a tail risk for buyers.

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History of this topic

Climate change is fuelling the US insurance problem
1 year ago

Climate change is fuelling the US insurance problem

BBC  

Climate change is fuelling the US insurance problem Getty Images Extreme weather events are making it hard to insure homes in certain parts of the US. "If you're not worried, you're not paying attention," California Senator Bill Dodd warned in 2023, following the release of a report which found Florida, California and Louisiana would see dramatic rises in home insurance …

Climate change is fuelling the US insurance problem
1 year ago

Climate change is fuelling the US insurance problem

BBC  

Climate change is fuelling the US insurance problem Getty Images Extreme weather events are making it hard to insure homes in certain parts of the US. "If you're not worried, you're not paying attention," California Senator Bill Dodd warned in 2023, following the release of a report which found Florida, California and Louisiana would see dramatic rises in home insurance …

Living on the edge (literally!): Homeowners with stunning ocean views forced to flee before crumbling cliffs battered by extreme weather dump properties into the water
1 year, 2 months ago

Living on the edge (literally!): Homeowners with stunning ocean views forced to flee before crumbling cliffs battered by extreme weather dump properties into the water

Daily Mail  

Do YOU live on a cliffside property? Get in touch: money@dailymail.com Images shows homes in Rhode Island, California and Maine all on the brink of collapse following a particularly violent winter Oceanfront homes are at risk of ending up in the water due to increased incidents of extreme weather Many Americans surely dream of owning a stunning oceanfront property with …

Homes worth £600m could be lost to the sea this century, say campaigners
2 years, 1 month ago

Homes worth £600m could be lost to the sea this century, say campaigners

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. The value of property damage, on the land that could be hit by coastal erosion by 2100, was estimated …

Life on the edge: what it’s like for communities threatened by coastal erosion
2 years, 2 months ago

Life on the edge: what it’s like for communities threatened by coastal erosion

The Independent  

It’s still possible to pick up a bargain property with stunning sea views on the Holderness coast in Yorkshire. Bungalows are still changing hands for cash on Green Lane in Skipsea despite aerial surveys charting coastal erosion’s relentless march right up to their front doors. To reach Skipsea Sands where Green Lane stands you leave the village’s main street and …

Building green homes: planet over profit
2 years, 6 months ago

Building green homes: planet over profit

The Hindu  

As the second-largest employment generator, the contribution of the real estate sector to the growth of the national economy is not new. Validating the same is a recent report titled ‘Real Estate Industry: Outlook and Challenges’ by Infomerics Valuation and Rating, which states that the Indian real estate industry is on course for sustained high growth at over 75% Y-o-Y …

The climate change risks to think about before you buy property
5 years, 4 months ago

The climate change risks to think about before you buy property

ABC  

"It's buyer beware, and these are not abstract risks." "Personally, I don't think anyone should buy a house without checking for extreme weather and climate change risks," he says. If current trends continue, climate scientists expect sea levels to rise one metre on average by the end of century, which would see many properties in low-lying coastal areas frequently flooded. …

Climate change could slash $571b from property values, study warns
5 years, 10 months ago

Climate change could slash $571b from property values, study warns

ABC  

A Climate Council study warns the value of Australian real estate could plunge over the next decade unless future governments have the political will to deal with climate change. Key points: The Climate Council estimates Australian real estate will lose $571b, or almost 9pc, of its value by 2030 The losses will be concentrated amongst 5-6pc of property owners, with …

"Climate gentrification" is coming to Miami’s real estate market
7 years, 2 months ago

"Climate gentrification" is coming to Miami’s real estate market

Salon  

Prospective homeowners often evaluate nearby schools, public parks, and public transportation options. But future homeowners in coastal cities might want to consider another factor before making a down payment: climate change. Climate gentrification — a new phrase to describe climate change’s transformation of real estate markets — could have huge repercussions. If real estate values start to decrease rapidly for …

Climate change risks threaten home values
8 years, 10 months ago

Climate change risks threaten home values

ABC  

Property owners in Australian coastal areas face significant and increasing losses from the impact of climate change, according to a report out today. Climate Institute chief executive John Connor said more than 2 per cent of all houses are already exposed to moderate to extreme risks of flooding. "Growing climate impacts mean the costs of these and other hazards exacerbated …

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