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Climate Change and Housing; Double Whammy For Home Prices; Rates Are Surging

Climate Change and Housing; Double Whammy For Home Prices; Rates Are Surging

September 28, 2021
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Two important members of the real estate community issued reports related to the impact of climate change within the last week. The Mortgage Bankers Association (MBA) Research Institute for Housing while CoreLogic's study was concerned with the housing costs associated with wildfires. MBA's 49 page study, written by Sean Becketti, former chief economists for Freddie Mac, calls global warming "the source of climate change" and says its certainty is documented by 150 years of measurements. It is contributing to sea-level rise, more storm surges, and reductions in glaciers and snow coverage with recent studies also linking it to increased droughts and inland flooding events. Selma Hepp, CoreLogic's Deputy Chief Economics, says wildfire season seems to be increasing in intensity year after year
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