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climate change impactsWired
•72% Informative
A study published earlier this year found that US mortgage approvals tend to dip following periods of hotter-than-normal weather.
For every 1 degree Celsius that temperatures rise above average, approvals fell by nearly 1 percent .
Nearly one in 10 properties owned by real estate investment trusts could be at “high risk” of climate-change-related damage.
There are signs that the financial industry is gradually moving toward helping homeowners adapt to climate change in other ways.
Lenders have cottoned on to the fact that the energy efficiency of a property has an impact on its value as an asset, for instance.
Research from the Bank of England suggests people with energy-efficient properties are more likely to keep up with their mortgage payments.
Climate change impacts on housing will force some to move elsewhere, suggests Burt .
Lenders who don’t take this approach may soon rue the day .
Affordable loans might one day be targeted at consumers in these areas to help them move to safer places, he says.
The structural utility of these properties will, like water in a drying oasis, simply evaporate.
VR Score
72
Informative language
69
Neutral language
18
Article tone
informal
Language
English
Language complexity
48
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
14
Source diversity
12
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