The article discusses how climate change impacts property values, revealing two distinct categories: "climate abandonment" zones and "climate-resilient" areas. The former, projected to see average property value declines of 6.2% and significant population losses, faces rising insurance premiums. Fresno County leads this trend with a projected 10.4% decline in home values and a staggering 46% population decrease. In contrast, climate-resilient zones are expected to thrive, with just 4,107 neighborhoods anticipated to witness home price appreciation of 10.8% due to stable insurance rates.
As the property risks associated with extreme weather rise, certain areas will suffer steep losses in home values while others benefit from their resilient locations.
First Street projects Fresno County's population will decline 46% over the next 30 years, while insurance premiums rise 56%.
These are areas that are significantly impacted by climate risk and have a statistical relationship between that climate risk and negative population change.
Just 4,107 neighborhoods, about 5% of all census tracts, are expected to see strong home price appreciation averaging 10.8% through 2055.
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