The U.S. and Canadian real estate markets are unstable amidst increasingly severe climate risks — including floods, wildfires, and hurricanes. This necessitates a radical re-think of common risk management strategies. While both nations share climate vulnerabilities, distinct regional risks pose challenges for property values and mortgage lending.

Property values: Impact and implications

U.S. property values are increasingly affected by severe climate events. Common flood areas — mostly in coastal states like Florida or Texas — face rising insurance costs and declining market values. Properties in these areas were overvalued by $44 billion in 2021, according to the details ⇒

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