As if increased demand and low supply for housing weren’t driving up housing costs enough, a new study finds the effects of rising sea levels could soon push low-income and working-class Floridians out of their current neighborhoods.
Many believe climate change will affect economies and societies across the planet, and there are already signs that concerns are working their way into certain real estate prices.
The San Francisco Fed warned that banks, communities and homeowners face significant financial risk from climate change and offered proposals for banks to do more to help.
"Risks such as sea-level rise and heat stress will increasingly highlight the vulnerability not only of individual assets and locations, but of entire metropolitan areas," a new report from the Urban Land Institute said.
