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

Credit: Hubert Neufeld/Unsplash

Black carbon spewing from ships is a major climate threat in the Arctic

A coalition of nations and environmental groups is lobbying the International Maritime Organization to create regulations around black carbon, or soot, that spews from ships and blankets parts of glaciers and snow.

Read the Full Article on

apnews.com

Homeownership risks grow as climate disasters drive up insurance costs

Opinion: Artificial intelligence can spur chemical plant decarbonization

Clear Horizons Act, setting emissions goals, heads to New Mexico Senate floor

Black carbon spewing from ships is a major climate threat in the Arctic

What over a century of ice data can tell us about the Great Lakes' future

Fracking boom put oil field in Texas river’s floodplain

Encouragement boosts people’s likelihood to take climate action

Energy Star program survives Trump administration's budget cuts

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.