You are using an older browser version. Please use a supported version for the best MSN experience.

US housing markets most susceptible to climate change

Mediafeed Logo By Emily Leff of Mediafeed | Slide 1 of 25: As the effects of climate change grow increasingly prevalent, they become harder and harder to ignore, especially when making a significant investment like buying a house. The National Resource Defense Council (NRDC) reported in 2019 that rising sea levels will be a significant driving force in displacing populations globally. In fact, the NRDC estimates that between 4.2 and 13.1 million Americans could be forced to move due to climate change by the end of the twenty-first century; countless miles of land in the United States will become unlivable within the next 80 years. Individuals on the market for buying a house in the United States have reported varying levels of concern about how climate change may affect where they choose to live. A recent report from the New York Times detailed a decline in property sales in high-risk areas in Florida following 2013, when the aftermath of Hurricane Sandy left many potential buyers reeling after witnessing the tangible effects of climate change. However, the housing market landscape in at-risk areas varies throughout the country. In some cities, home sales are virtually unimpeded by the impending possibility of sea level rise. According to a November 2020 report by Politico, lenders have continued to issue mortgages in these at-risk neighborhoods without hesitation, indicating that movement into these regions is still active. 

Is climate change shifting buyer priorities in US real estate markets?

As the effects of climate change grow increasingly prevalent, they become harder and harder to ignore, especially when making a significant investment like buying a house. The National Resource Defense Council (NRDC) reported in 2019 that rising sea levels will be a significant driving force in displacing populations globally. In fact, the NRDC estimates that between 4.2 and 13.1 million Americans could be forced to move due to climate change by the end of the twenty-first century; countless miles of land in the United States will become unlivable within the next 80 years. 

Individuals on the market for buying a house in the United States have reported varying levels of concern about how climate change may affect where they choose to live. A recent report from the New York Times detailed a decline in property sales in high-risk areas in Florida following 2013, when the aftermath of Hurricane Sandy left many potential buyers reeling after witnessing the tangible effects of climate change. However, the housing market landscape in at-risk areas varies throughout the country. In some cities, home sales are virtually unimpeded by the impending possibility of sea level rise. According to a November 2020 report by Politico, lenders have continued to issue mortgages in these at-risk neighborhoods without hesitation, indicating that movement into these regions is still active. 

© Tim Gray / iStock
Loading...

XD Load Error

More from Mediafeed

AdChoices
image beaconimage beaconimage beacon