Housing Industry Faces Climate Change Threat

Aerial view of a flooded area. Credit: iStock.com/RoschetzkyIstockPhoto

With the government continuing to back mortgages on homes in areas that are threatened by floods, fires and extreme weather, paired with new weather patterns seen in recent years, the housing industry is facing another unprecedented threat.

Navi Persaud
 & 
June 12, 2020

With the government continuing to back mortgages on homes in areas that are threatened by floods, fires and extreme weather, paired with new weather patterns seen in recent years, the housing industry is facing another unprecedented threat. According to a Politico report, more homes are being built on at-risk land, however, fewer people are purchasing federally-backed flood insurance, even though it is required that homeowners in flood plains be insured once their mortgage is backed by taxpayers.

Read more about why climate change has the potential to cause a full-blown housing crash.

This article originally appeared in the National Mortgage Professional print magazine.

Navi is the Director of Online Content for American Business Media in West Hartford, Conn.

Navi is the Director of Online Content for American Business Media in West Hartford, Conn.

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Housing Industry Faces Climate Change Threat
News

Housing Industry Faces Climate Change Threat

June 12, 2020
by
Navi Persaud

With the government continuing to back mortgages on homes in areas that are threatened by floods, fires and extreme weather, paired with new weather patterns seen in recent years, the housing industry is facing another unprecedented threat. According to a Politico report, more homes are being built on at-risk land, however, fewer people are purchasing federally-backed flood insurance, even though it is required that homeowners in flood plains be insured once their mortgage is backed by taxpayers.

Read more about why climate change has the potential to cause a full-blown housing crash.

Written by 
Navi Persaud

Navi is the Director of Online Content for American Business Media in West Hartford, Conn.

npersaud@ambizmedia.com

These articles are powered by National Mortgage Professional

With the government continuing to back mortgages on homes in areas that are threatened by floods, fires and extreme weather, paired with new weather patterns seen in recent years, the housing industry is facing another unprecedented threat. According to a Politico report, more homes are being built on at-risk land, however, fewer people are purchasing federally-backed flood insurance, even though it is required that homeowners in flood plains be insured once their mortgage is backed by taxpayers.

Read more about why climate change has the potential to cause a full-blown housing crash.

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