Real estate sits at the heart of the American economy. It also faces rising risk from flooding and wildfires alters the economics of real estate in some regions. As climate change advances, analysts say it is likely to drive shifts in the valuation of properties, as well as the cost to insure them.
Climate Risk
Climate risk encompasses the potential adverse effects of climate change on natural and human systems. It includes increased frequency and severity of extreme weather events like floods, droughts, and hurricanes, as well as long-term shifts like rising sea levels and changing precipitation patterns.
Thunderstorms Are Changing Climate Risk
Bigger, wetter thunderstorms are one of the manifestations of climate change, and are altering risk calculations for millions of American homes and businesses. The good news: Satellite imagery and AI can improve alerts of impending floods, as well as insurance options for at-risk properties.