Homeowners Insurance Rate Hikes

This is a news story, published by The Atlantic, that relates primarily to Bob Greene news.

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climate risk

The Atlantic

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How much the U.S. housing bubble is growing is a bellwether of climate change

Summary

Nutrition label

74% Informative

Bob Greene : As wildfire and flooding turn assets into liabilities, homeownership is becoming a greater gamble.

Greene: Many economists think that, because home prices don’t yet reflect climate reality, a new housing bubble is growing.

How much bigger it gets will determine how much havoc it will wreak when it inevitably pops, he says.

Greene says the bubble will, at first , seem regional, until foreclosures and devaluations related to insurance hikes hit some critical mass.

These programs simply do not have enough money to bail everyone out.

Instead, governments could invest in adapting neighborhoods to be more resilient, by hardening and wind-proofing homes, or restoring wetlands so they absorb floodwaters.

In places beyond the help of measures like those, the only realistic adaptation may be to retreat to higher or less fiery ground.

VR Score

Informative language

Neutral language

Article tone

semi-formal

Language

English

Language complexity

Offensive language

not offensive

Hate speech