CNBC video - Can Homeowners In The U.S. Afford Climate Change?



Climate refugees: people are fleeing the effects of climate change while the financially well off are better able to adapt (and stay put). Even the rich are considering the climate change impacts when deciding where to build their home


Climate change has a direct cost impact to homeowners by increasing the insurance costs of staying in their desired locations (e.g. a waterfront property)


Story of Jenna Johnson, originally from Paradise, California how the California wildfires affected her family


Story of Jasmine Sanders, and her experience during Hurricane Katrina in Louisiana


Story of Curt Dyer from Miami, on how increasing rainfall and rising sea levels are affecting his home, and the increasing costs of staying put due to flood prevention renovations


Insurance costs are rising and increasingly means only the wealthiest can live in desired areas such as the waterfront, because they can afford the high premiums. Homeowners also find it difficult to claim from insurers.


Risk assessment becomes increasingly important to homebuyers and are changing their behaviour.

Banks and investors are increasingly focused on this risk as well, such as when a bank lends for a mortgage.

Communities who are already negatively affected, such as minorities, will suffer even more from increased risks/cost.


A look at how federal government programs currently deal with risks of flooding such as the National Flood Insurance.


Climate change will impact communities because it will increase costs of living in an area (if it is even possible to stay put), with knock on effects on accrual of wealth, employment, supply chains.

Home values may be affected in the future, such as properties on higher ground may be worth more in the future