Housing markets are failing to price in climate risks in their assessment of housing values, according to a recent study published by Nature.

A study recently published by the journal Nature finds that U.S. residential properties exposed to flood risk are overvalued by between $121 billion and $237 billion.
The number of homes in the United States at risk of flooding, especially as extreme weather becomes more frequent as a result of climate change, accounts for some of that risk, according to the study. “Currently, more than 14.6 million properties in the United States face at least a 1% annual probability of flooding, reads the abstract. The study assumes that climate change will increase that total by 11 percent.
The journal article, authored by Jesse D. Gourevitch, Carolyn Kousky, Yanjun (Penny) Liao, Christoph Nolte, Adam B. Pollack, Jeremy R. Porter, and Joakim A. Weill is available in full online.
FULL STORY: Unpriced climate risk and the potential consequences of overvaluation in US housing markets

Study: Maui’s Plan to Convert Vacation Rentals to Long-Term Housing Could Cause Nearly $1 Billion Economic Loss
The plan would reduce visitor accommodation by 25,% resulting in 1,900 jobs lost.

North Texas Transit Leaders Tout Benefits of TOD for Growing Region
At a summit focused on transit-oriented development, policymakers discussed how North Texas’ expanded light rail system can serve as a tool for economic growth.

Using Old Oil and Gas Wells for Green Energy Storage
Penn State researchers have found that repurposing abandoned oil and gas wells for geothermal-assisted compressed-air energy storage can boost efficiency, reduce environmental risks, and support clean energy and job transitions.

Santa Barbara Could Build Housing on County Land
County supervisors moved forward a proposal to build workforce housing on two county-owned parcels.

San Mateo Formally Opposes Freeway Project
The city council will send a letter to Caltrans urging the agency to reconsider a plan to expand the 101 through the city of San Mateo.

A Bronx Community Fights to Have its Voice Heard
After organizing and giving input for decades, the community around the Kingsbridge Armory might actually see it redeveloped — and they want to continue to have a say in how it goes.
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