If it’s a day ending in a Y it must be a great day to fearmonger and prognosticate (it’s an Axios article, so, their formatting is always a bit different
Climate change could erase $1.4 trillion in real estate value: report
A novel new report combining several strands of research finds that human-driven climate change could result in $1.47 trillion in net property value losses from rising insurance costs and shifting consumer demand.
Why it matters: Insurance costs are increasing faster than mortgage payments. That’s squeezing homeowners and leading to climate change-driven migration away from high-risk areas in the Sun Belt and the West.
The report from First Street, a climate risk financial modeling company, identifies the five largest metro areas likely to see the biggest spikes in insurance premiums: Miami, Jacksonville, Tampa, New Orleans and Sacramento.
I’ve mentioned First Street before: they are overly hysterical and full blown members of the doomsday climate cult. And they’re claiming this will happen over the next 30 years. What happens if this doesn’t happen? Who gets fired?
According to the new research, climate impacts may disrupt historical migration to Sun Belt states as risks of climate change-worsened extreme weather events continue to grow.
Is there anyone who thinks that this slight uptick in temperatures will stop them? The fearmongering over tropical systems, something not born out by actual data, will scare people? It has not so far. Nor the scary prognostications of sea rise doom.
Between the lines: First Street’s report itself hasn’t been peer-reviewed, and there are important caveats and uncertainties associated with the work, since it combines results from multiple models and peer-reviewed studies.
OK, so, then why are so many news outlets reporting this? Why did they publish a report with “important caveats and uncertainties”? Would it surprise you that this is based on a garbage computer model? This is doomsday crap that’s as useful as Alex Jones and the Weekly World Report.
How are home business insurance prices in places like Jacksonville, Miami, Tampa, Houston and SoCal??
What happens when folks can’t pay for insurance or pay to rebuild? Do they just lose?
Teach attacks First Street Foundation because he hates their conclusions. LOL. Silliness.
Teach also asks who will be punished if their evaluations are incorrect. Who will be punished if they are correct and Trump, Musk, Zuck, Teach, FOX News etc prevent action? Will they be held responsible?