An article in Bloomberg CityLab highlights how real estate investors and developers are increasingly taking into consideration climate risk factors in deciding whether to purchase land, including looking at what local governments have done to prepare for climate change. The article underscores the fact that the real estate industry is increasingly recognizing that the long-term viability of investments will be dependent on factors such as climate predictions, critical infrastructure investments, and fiscal policy constraints.
Following the lead of several other Bay Area cities, Oakland and San Jose this week adopted bans on natural gas in the construction of most new buildings. Last July, Berkeley became the first city in the nation to ban natural gas. Other Bay Area cities, including San Francisco and Richmond, followed suit in subsequent months.
A recent article in Politico highlights the massive risks that climate change poses to Fannie Mae and Freddie Mac, the federal home lending entities.
A new article in the New York Times highlights the nearly quarter-million flood insurance policies that are in violation of a simple rule: if you want publicly-subsidized flood insurance, you cannot build a home that is likely to flood.
An article posted today in CalMatters highlights an issue that cities along California's coast must address as sea levels continue to rise: how can vulnerable structures be re-located to safer ground? "Managed retreat", or the purposeful and planned re-location of people and infrastructure away from the shoreline, is one of the scenarios that coastal communities must plan and prepare for.
A recent article in the New York Times highlights the impact that climate change is having on American homeownership-- specifically, the risks of sea level rise and flooding are making banks warier of lending to homebuyers in vulnerable areas. Climate change risks have already begun to push down home prices in coastal areas and along rivers. Furthermore, banks are trying to get loans off of their books by selling to government-backed buyers like Fannie Mae, meaning that taxpayers would be on the hook if the loans were to fail.