U.S. Home Value Declines by Climate
This is a U.S. news story, published by CNBC, that relates primarily to FEMA news.
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property value impactCNBC
•Science
Science
U.S. housing market could lose nearly $1.5 trillion in value due to rising costs of climate change
72% Informative
By 2055 , 84% of all U.S. homes may see some drop in value, totaling $1.47 trillion in losses.
Roughly a dozen counties in Texas , Florida and Louisiana could see home values cut in half .
In the next five years , at least 20% of homes will be devalued by the effects of climate change.
Rising insurance costs will be the main factor in home price declines.
Some communities might increase taxes to pay for resilience measures.
Maintenance and energy costs may also go up.
Despite all of this, FEMA has ordered FEMA staff to immediately stop implementation of the Federal Flood Risk Management Standard .
VR Score
82
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85
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75
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English
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47
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