The article highlights how the 2008 financial crisis, linked to bad mortgages, may pale in comparison to the emerging threat faced by the U.S. housing market today due to climate change. Rising sea levels and increasing frequency of wildfires are eroding the viability of homes in highly susceptible regions like Florida and California. As these environmental conditions worsen, the potential for a crisis that disrupts the economy and housing market is increasing, suggesting a disastrous reality that could eclipse past financial troubles.
Rising seas, wildfires, and denial are creating a new financial crisis in the U.S. housing market, one that parallels the 2008 mortgage collapse.
The effects of climate change are eroding the stability of homes across the U.S., particularly in vulnerable areas like Florida and California.
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