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While hurricanes and thundering typhoons put thousands in disarray every year, a whole other bunch of folks have floods and earthquakes to contend with.
Put your ears to the ground - what does it mean?
There is a link between climate change and weather-driven disasters that are ravaging coastal housing zones, as rising sea levels are affecting many other areas in myriad ways.
⚠ Look at the US, where more than 13% stay within a 100-year old flood plain. If you think that's a lot, this could be 15.8% and 16.8% by 2050 and 2100. The UNEP has also estimated a 30% increase in wildfires by 2050 with even slight temperature rises.
Funny part is, homebuyers continue to throng these high-risk zones to pay through their noses for properties that could become unliveable within the next two decades.
Why are realty buyers in silent mode?
With a large chunk of properties at risk, buyers need to ask more questions, especially if they plan to settle somewhere. Disclosure levels in the industry are not heartening either.
Home buyers are not enquiring about elevation, flood risks, extreme weather conditions and other vulnerabilities.
🤷♀️ And then there are extreme ironies - though California had 5 out of the 6 largest wildfires in state history in 2020, the devastated zones saw home price hikes with overwhelming demand. Climate change needs to be a part of home buying decisions.
And the questions need to flow thick and fast.