Homes in parts of the U.S. are “essentially uninsurable” due to rising climate change risks
Millions of American homeowners like Mary Morse find themselves stuck in a financial bind, facing mounting risks from wildfires and...
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Climate Change and U.S. Property Insurance: A Stormy Mix
American homeowners already coping with extreme weather now face a new risk: disappearing property insurance. Private companies have increasingly reduced coverage, concluding that the risks—and potential losses—threatened by climate change outweigh probable profits. As of now, this primarily affects a handful of coastal U.S. states, including California. In other states, insurers have substantially increased the price of property insurance. More From Our Experts Investing in housing is how many Americans build wealth, with owner-occupied homes accounting for around a quarter of households’ net worth. But homes that carry high insurance...
Billions Worth of Property At Risk From Climate-Fueled Fires
Photos of the ashen remains of homes, hotels, and historic sites, blackened and burned by the Maui wildfires, make clear...
Unpriced climate risk and the potential consequences of overvaluation in US housing markets
Property transaction dataWe combine the Zillow ZTRAX database49 and the PLACES database50 to access property transactions, locations, and assessments for...
