Homeownership risks grow as climate disasters drive up insurance costs

The rising cost of home insurance, driven by worsening climate disasters, threatens the financial security of millions of Americans and could lead to widespread migration away from high-risk areas.

Abrahm Lustgarten reports for ProPublica.

In short:

A new study by First Street Foundation predicts nearly $1.5 trillion in U.S. housing losses over the next 30 years due to rising insurance costs linked to climate disasters.
Home insurance premiums have increased 31% since 2019 and could rise another 29%, making homeownership less financially viable in vulnerable regions.
The study suggests more than 55 million Americans may relocate due to climate risks in the coming decades, shifting real estate values across the country.

Key quote:

First Street’s Foundation's work “plays the role of Paul Revere, of the challenge we could face if we fail to adapt.”

— Matthew Kahn, economist at the University of Southern California

Why this matters:

Owning a home has long been a primary way for Americans to build wealth, but increasing insurance costs threaten that stability. Climate-driven migration could reshape entire communities, deepen economic inequality and make housing less affordable for future generations.

www.propublica.org

Sick African American man coughing holding paper napkin near mouth suffering from respiratory ailment

Credit: Prostock-studio/BigStock Photo ID: 400400966

In U.S. coal country, black lung surges as federal protections stall

While President Trump is directing hundreds of millions of dollars to coal projects, miners in Appalachia are suffering from a resurgence of black lung disease. But industry pushback has indefinitely delayed federal rules that would reduce miners’ exposure to deadly silica dust.

Read the Full Article on

e360.yale.edu

Homeownership risks grow as climate disasters drive up insurance costs

With promises of money, controversial gas pipeline on Navajo Nation passes first hurdle

Revealed: British ad giant’s billion-dollar greenwash of U.S. oil industry

What could the UAE’s exit from OPEC mean for oil markets and the climate?

Congress once shielded gun makers. Now it’s fossil fuel companies’ turn

The SEC tried to silence activist investors. Now they're fighting back

Takeaways from the first conference focused on transitioning away from fossil fuels

In U.S. coal country, black lung surges as federal protections stall

Multiple Houston-area oil and gas facilities that have violated pollution laws are seeking permit renewals

One facility has emitted cancer-causing chemicals into waterways at levels up to 520% higher than legal limits.

Pennsylvania health advocates say Trump’s first 100 days in office have caused “100 harms” to local communities

“They're terrorizing these scientists because they want to keep them silent.”

Regulators are underestimating health impacts from air pollution: Study

"The reality is, we are not exposed to one chemical at a time.”

Two years into his term, has Gov. Shapiro kept his promises to regulate Pennsylvania’s fracking industry?

A new report assesses the administration’s progress and makes new recommendations

An open letter from EPA staff to the American public

“We cannot stand by and allow this to happen. We need to hold this administration accountable.”

New evidence links heavy metal pollution with wildfire retardants

“The chemical black box” that blankets wildfire-impacted areas is increasingly under scrutiny.