Dee Gill has published an article in UCLA Anderson Review, titled “Is the $1 Trillion Coastal Housing Market a Future Financial Crisis?” The article begins as follows:
Homebuyers ignore warnings of rising seas; lenders keep lending
A financial crisis often seems to arrive out of nowhere — dot-com stocks plunging in 2000, the American mortgage meltdown of 2008 — but when we look back, we always find early and substantial signs of trouble to come. What’s more, these crises are often preceded by a very public debate over their likelihood, with the doomsayers initially few and often mocked.
A decade or two from now — perhaps much sooner — we may be parsing the early signs of the Coastal Housing Crisis, brought on by climate change and its rising seas. If present trends continue, that crisis would also involve soaring home prices and mortgage debt in the most flood-vulnerable zones, and regular, if not catastrophic, flooding that makes once-prized areas undesirable, if not unlivable.
Click here to see full article: “Is the $1 Trillion Coastal Housing Market a Future Financial Crisis?”
Posted by Anthony Tran, Associate Editor, Wealth Strategies Journal
