The New York Times front page report: Climate "shocks" are eroding home values
Even after escaping a historic hurricane and other climate disasters, many homeowners are facing a new, ongoing threat: the value of their homes is being eaten away by climate risks.
In a small coastal community in Lafayette, Louisiana, 68-year-old resident Miriam Rojas-Azkury has lost her home in disasters such as Hurricane Katrina in 2005, Hurricane Laura in 2020, and Hurricane Ida in 2021. This year, her annual home insurance premium increased by $2000, reaching a level she can no longer afford.
She considered selling her house, but found that local home prices have dropped by 38% since 2020.
"It's a tough situation," she said, "you're stuck because you can't sell the house or afford the insurance costs."
New research shared by The New York Times shows that changing climate is increasing home insurance costs and lowering home prices in the most disaster-prone areas across the United States.
This study analyzed millions of transactions over several decades, revealing for the first time a phenomenon: in most cases, the impact of climate shocks on home values begins to show up several years before the disaster occurs.
Original: www.toutiao.com/article/1850050466070985/
Statement: This article represents the views of the author himself.