Two
important members of the real estate community issued reports related to the
impact of climate change within the last week. The Mortgage Bankers Association
(MBA) Research Institute for Housing while CoreLogic’s study was concerned with
the housing costs associated with wildfires. 
MBA’s
49 page study, written by Sean Becketti, former chief economists for Freddie
Mac, calls global warming “the source of climate change” and says its certainty
is documented by 150 years of measurements. It is contributing
to sea-level rise, more storm surges, and reductions in glaciers and snow
coverage with recent studies also linking it to increased droughts and inland
flooding events. Selma Hepp, CoreLogic’s Deputy Chief Economics, says wildfire
season seems to be increasing in intensity year after year. Starting with the
Dixie Fire, which started in mid-July and nearly two months and 840,000 acres
later was only 52 percent contained. She goes through recent disasters,
enumerating their costs in terms of rents and housing prices.

 

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