Sep 27, 2021
Flood

Systemic Risk to the Housing Market from Flooding

Climate change represents a systemic risk to the US housing market. With the federal government backing the majority of US mortgages, a major flooding event can create cascading losses for homeowners, Freddie and Fannie, and ultimately US taxpayers. Better insurance markets will help improve climate change resilience and soften the blow of destructive weather. Mother Jones shares a report from the Research Institute for Housing America on the risks and opportunities for more comprehensive insurance in the face of climate change.

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