Climate change is increasingly impacting the housing market, with insurance premiums expected to rise significantly, particularly in the Sun Belt region. A report from First Street indicates that insurance premiums could surge by over 300% across major U.S. cities in the coming decades. Florida, Texas, and California, which have experienced the majority of natural disasters, are particularly hard-hit. The report also highlights a growing awareness among homebuyers, with 80% considering climate change's implications when purchasing properties, indicating potential shifts in property values in disaster-prone areas.
Climate change is already significantly impacting the housing market, leading to surging insurance premiums and devalued property prices, especially in the Sun Belt.
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