The Climate Council of Australia is predicting 4% of Australian homes will be considered “high-risk” and uninsurable by 2030 because of extreme weather conditions. Another 9% will be “medium-risk”, with an expected annual repair cost between .2%-1% of the property value. This isn’t just the coastal areas; were talking coastal flooding, river flooding, in-land flash flooding, wild fires, hurricanes.
Will that happen here? Researchers from LSU just published a study that suggests it might eventually. The number of Houston,TX homes that were flooded during hurricane Harvey 5 year ago was approximated to be 50% greater because of where we’re at with climate change.
“Climate change is happening right now with real and substantial costs,” Smiley said. “Three to five extra inches of rainfall from climate change can make the difference between your lawn getting soaked and your house getting flooded leaving it uninhabitable.”
How might home inspection be effected by uninsurable homes? Assuming people still want to buy them.
How might home inspection be effected when areas of the country are undesirable/volatile locations for large parts of the year? Homeowners might migrate & concentrate in other areas… but home inspectors might also.
I know, I know… some of you think that i think “the sky is falling!”… No matter where you lie on the climate change spectrum, it must be hard to ignore the widespread extreme weather in the country. Hard to not be curious about how this might effect the real estate market.
A few years ago the record number of hurricanes was blamed on the warm Atlantic ocean waters caused by “climate change”.
The climate hasn’t changed since and now we have a record number of no hurricanes. Every generation seems to think they live in the most historic unprecedented time. I’m sure every generation before us thought the same thing. Maybe not, every generation gets dumber. The sky is falling we should all be terrified. Notice the Washington post says this is terrifying when there’s no hurricanes.
You can search the web about the hurricane drought. We had the third August on record with no named hurricanes.This global warming is some terrifying stuff.
I only know of one thing forcing people to relocate and I’ve never heard weather was the driver.
Care to know what it it? Spoiler alert Cali is last on the list for final destination. I hear the weather is nice so there goes that theory So why the migration from blue states to red?
When I moved to NM my first winter we had 1/4” of snow. The crazies were saying climate change.
My last year (13 years later) we had 8’ of snow! I was vacationing on St. Martin most of the winter so I missed almost all of it.
We have had the ability to accurately measure weather for a few hundred years. We humans make assumptions we know what an average is yet we have walked the Earth for a fraction of its existence. Such presumptuous jerks we are.
Bottom line is the weather is getting more extreme everywhere, and IMO there is no getting away from it, if the recent floods in Kentucky, Tennessee, and Virginia were a few hundred miles north or west, it very well could have been my neighborhood in the news.
As for the deniers, they could be under water with their hair on fire and they would still be in denial that anything was wrong, best to ignore them when it comes to anything related to scientific data and facts that most everyone sees in the news on a nightly basis.