Climate Change Deniers Pay More For Houses At Risk Of Future Flooding
KUT Austin NPR
By MOSE BUCHELE, KUT
5pm 11/7/19
About 2% of U.S. homes are at risk of being flooded by the end of the century, thanks to rising sea levels. And the reason for rising sea levels, according to the National Oceanic and Atmospheric Administration, is climate change. But flood risk is not translating into lower property values in some areas along the coast.
Instead, researchers found climate risk is decreasing the sales price of at-risk homes only in areas where people generally accept the science of climate change....They found homes in coastal areas at risk of sea level rise will sell for about 7% less in counties where more people believe in climate change. It's the belief in risk that appears to be determining the price difference, rather than the risk itself.
Big insurance and banking interests are already trying to protect themselves from losing money because of climate change. One recent study found large banks are shifting mortgages for high-risk properties to taxpayer-funded institutions like Fanny Mae and Freddy Mac, so they're not taking a hit if a house is damaged by flooding, for example.
Some more here
https://www.kut.org/post/climate-change-deniers-pay-more-houses-risk-future-flooding
= new reply since forum marked as read
I think some DUers still think like that as well.
