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Sign into your accountClimate Change is Changing Real Estate
December 28 2020
ClimateCheck Tells the Story of How Much
In 1960s Berkeley, our home didn't have central air conditioning and it didn't matter. We never needed it. In fact, when temperatures hit a rare 80 degrees, it was big news and time to wear shorts. These days in Berkeley and the rest of the Bay Area, a home without AC is an uncomfortable home. Last June, Berkeley temperatures reached 107 in record-setting heat.
News-making temperatures are one of the many ways in which climate change is impacting the real estate industry. The risk of fires, storms, drought, or flooding can make a buyer reconsider what would have been the perfect home. While disclosure forms and flood insurance help, they don't tell the full story of the impact of climate change over the 30-year horizon of the typical home loan.