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The bulk of household wealth (67%) is tied to the primary residence. (Credit: Romar66/AdobeStock)Climate change — and increasing insurance needs — could sink property values in certain areas of the United States by more than $1 trillion over the next 30 years, according to a new study from First Street.
The shift will re-shape U.S. population patterns, with some states coming out ahead and others losing big time. By 2055, First Street’s models predict that properties in “climate abandonment” areas stand to lose $1.47 trillion in value, while those in “climate resilient” neighborhoods could gain $244 billion.
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