I have been following this issue for some time, and it’s not yet being widely factored into asset allocation decisions. How much of our net worth will we want in buildings that can’t be insured or where premiums go parabolic? How can we reduce and self-insure our risk in a world with hard-to-get or unaffordable insurance? Some people are starting to see the writing on this wall.
Remember the 2008 Financial Crisis? Experts warn that the same thing may be happening again, but this time, CLIMATE CHANGE is the culprit. Increasing natural hazards, from wildfires and hurricanes to rising sea levels and catastrophic flooding are threatening the very foundation of our real estate system in huge swaths of the country. State Farm, All State and Farmers Insurance all stopped writing new policies in the entire state of California. And we’re seeing similar stories unravel in other states due to different threats, like in Florida and Louisiana. Could the real estate bubble be popping? Where else might be affected?
Weathered is a show hosted by weather expert Maiya May and produced by Balance Media that helps explain the most common natural disasters, what causes them, how they’re changing, and what we can do to prepare. Here is a direct video link.
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