Climate Change Could Cause the Next Housing Crash | NowThis Earth

Here's how climate change could cause the next housing market crash.

According to a report from the National Bureau of Economic Research, there might be a correlation between sea level rise and risk in the housing and mortgage markets.

Data shows that since 2018, prices of houses in high-risk areas have decreased by roughly 5% when compared to those in less vulnerable areas.

Approximately 40% of Americans live in coastal cities, and if sea levels continue to rise, they could be at risk.

By 2045, experts estimate that more than 300,000 coastal homes will be at risk of regular flooding, and it's likely the value of these houses will continue to fall.

#Climate #HousingMarket #Earth #Environment #Science #NowThis

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[ccsleepy]

People are going to try to capitalize off this by buying up houses that will be largely unaffected then selling them at even higher prices, forcing poorer people to move farther to escape this housing crisis. The amount of people that could be displaced or even end up homeless by the coupled effects of capital and climate change could be among the most devastating displacements seen.

[jessetorres]

Ben Shapiro: If you believe you're in an area that's gonna be flooded from climate change then just sell your house and move.
Responder: Just 1 small problem: Sell our houses to who, Ben?! Aquaman?!

[troddenleper]

It doesn't mater if you don't believe in Climate change or not. It will happen anyway. What's important is what we do about it.

[aarononeal]

If you are looking for a way to help the environment you can use ecosia they are a search engine that plants trees

[ViceCoin]

I'm looking at seasonal housing, and hotel rentals.

[jimmyhirr]

I don't think this can cause a "housing crash" in the US like the one in 2008. Lower prices on the coasts will be offset by higher prices inland.

[SevenEllen]

"Pretty big challenge"? It'll be impossible. We're having knock-on effect after knock-on effect; whilst trying to recover from the global financial crisis, Covid hit us, and then there's going to be water shortages within the next few decades, coupled with harsher storms, more floods and hotter summers, it's going to be grim down the line no matter what we do. We could all have climate-change-proof homes but we'll still be deeply distressed by the horrors happening to the world.

[drpgfki]

Tell Boomers to stop building within 10ft of sea level and in hurricane zones then.

[claytonhalligan]

It could also cause a housing boom further inland and on higher ground

[erich]

What's the title of that instrumental?🤔

[lacyhay]

If what you are saying is true, by the time my grandkids have kids all around the coast could be completely underwater.

[blkhemi]

When all the rich people start selling off their beach houses, and homes on long Island, Martha's Vineyard, and Key West I'll start to worry.

[co]

I grew up in Jacksonville Florida. I remember going to the beach in the 70s. Recently visited Jacksonville. Nothing has changed
I saw a photo of a lighthouse taken in the late 1800s. The sea level in the recent photos is the same.
It is hard for me to justify this video

[patricialongo]

We sure have unsustainable neighborhoods. You can't even pay for the commute with typical salaries. And the cars are killing the planet. People are idiots for a job.

[blahblah]

Shouldnt this have been an issue years ago?

[Skidmark]

I am confused why I should care about how much some rich person's house is valued at or even if it gets washed away. If there is a dip in the market it will still recover as long as money is being printed.

[kylealexander]

Downvoted for the stupid perspective. Seriously if it mattered ud have some1 watch video once b4 hand