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Cat @ponder.cat

3d ago

How Climate Denial is Fueling a U.S. Homeowners Insurance Crisis and Risking a 2008-Style Financial Meltdown.

www.ineteconomics.org How Climate Denial is Fueling a U.S. Homeowners Insurance Crisis and Risking a 2008-Style Financial Meltdown

New research reveals that rising insurance costs, reckless building, regulatory inaction, and big banks' fossil fuel investments are driving a dangerous cycle that jeopardizes homeowners -- and financial stability for everyone.

How Climate Denial is Fueling a U.S. Homeowners Insurance Crisis and Risking a 2008-Style Financial Meltdown

4 comments

Ngl I’m kinda waiting for another meltdown like that because maybe then I’ll be able to buy a fucking house as I close in on my 40th goddamn birthday

The economy won't function without denial. 2008 was only due to high risk mortgages. To face the fact that countless areas will be destroyed by natural disasters, and their value will not be backed by insurance... The value loss is something nobody wants to acknowledge, the economy would never be the same.

This concept pop up every years and each time i am surprise by how happy i am for US politicians to be forced to acknowledge climate change and then sad for all those people priced out of living at a fair price in a safe place.