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Whoever is elected the 47th president of the United States will start with a rare and clear advantage: a remarkably solid economy. Tuesday’s election will show how much that all matters to voters, who will soon decide which candidate they want to entrust the economy to from here. But to regular American households, it’s more of a “Yes, but” economy: Yes, the job market is strong, but my boss wants me in five days a week, and that doesn’t work for me anymore. Yes, inflation has fallen, but I can’t afford day care. Prices across the rest of the service economy were 4.7% higher overall, and medical care was up 3.9%.

Persons: Kamala Harris, Donald Trump, Spencer Platt, Yuki Iwamura, they’re, Helene, Milton, Patrick T, Fallon, Harris, ”, Greg Valliere, Joe Biden wasn’t, Trump, Karoline Leavitt, “ Kamala Organizations: Investment, Stock, Getty, Consumer, Bloomberg, CNBC, First Street Foundation, NBC, AGF Investments, Biden Locations: United States, Ukraine, Israel

☆ Asheville was considered a climate haven. Helene shows nowhere is safe
▼ + stars: | 2024-10-02 | by ( Laura Paddison | Holly Yan | ) edition.cnn.com time to read: +7 min

CNN —Asheville was touted as a climate haven, a place to escape the worst ravages of extreme weather. It pummeled western North Carolina as a tropical storm Friday. In some ways, this scenic swath of western North Carolina was primed for catastrophe. Both systems concentrated their highest rainfall on western North Carolina, killing 11 people. A recent First Street report found parts of North Carolina devastated by Helene could now experience a once-in-100 year flood every 11 to 25 years.

Persons: ”, Kathie Dello, Hurricane Helene, Helene, Melissa Sue Gerrits, Jesse Keenan, Susan Hassol, Dello, ” Dello, Ivan, Frances, Sean Rayford, Fred, Travis Long, Helene “, Ed Kearns, ” Kerns, Esther Manheimer, Tulane University’s Keenan, Keenan, ” There’s, Rachel Ramirez, Ella Nilsen, Brandon Miller Organizations: CNN, Asheville, Highways, Biltmore, Tulane University, Lawrence Berkeley National Laboratory, Tropical, First Street Foundation, Tulane Locations: North Carolina, America, North Carolina’s, Florida, Buncombe County, Asheville, Gulf of Mexico, California , Arizona, Carolinas, Georgia, Buncombe, Biltmore Village, Cruso , North Carolina, Canada, Vermont, West Virginia, Phoenix

☆ A 'man-made disaster' could make it trickier to buy or sell a home in some areas this fall, real estate expert says
▼ + stars: | 2024-08-26 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +5 min

That's because the National Flood Insurance Program — the government-sponsored public insurance program that is the largest flood insurer in the U.S. — needs to be reauthorized by Sept. 30 to continue to issue new policies or increase coverage on existing policies. "There are very few private insurers that offer any type of flood insurance," said Daniel Schwarcz, a professor of law at the University of Minnesota Law School who focuses on insurance law and regulation. In that report, from 2011, it estimated a one-month NFIP lapse could affect about 40,000 closings. "There is no need to take the risk that the flood insurance program will lapse when you could close ahead of Sept. Then in 2021, FEMA implemented Risk Rating 2.0, a new pricing system that would accurately reflect the cost of an area's risk.

Persons: Jaret Seiberg, Cowen, Jeremy Porter, Daniel Schwarcz, Cowen's, Yanjun Liao, Liao, Schwarcz, Foundation's Porter, Porter Organizations: Getty, Federal Reserve, National Flood Insurance, Federal Emergency Management Agency, First Street Foundation, University of Minnesota Law School, National Association of Realtors, FEMA, Resources Locations: U.S, New York, Washington ,

☆ These 10 U.S. states are America's least-prepared for climate change and extreme weather
▼ + stars: | 2024-07-26 | by ( Scott Cohn | ) www.cnbc.com time to read: +13 min

In 2021, Maryland adopted a ten-year Climate Adaptation Resilience Framework aimed at making the state's infrastructure more sustainable by 2030. 2024 Infrastructure Score: 230 out of 425 points (Top States Grade: B) Climate Extremes Index: 62.44% Properties at risk: 100% Renewable Energy: 14% 9. 2024 Infrastructure Score: 235 out of 425 points (Top States Grade: B) Climate Extremes Index: 62.44% Properties at risk: 54% Renewable Energy: 4% 5. 2024 Infrastructure Score: 246 out of 425 points (Top States Score: B+) Climate Extremes Index: 39.82% Properties at risk: 14% Renewable Energy: 5% 4. 2024 Infrastructure Score: 179 out of 425 points (Top States Grade: D+) Climate Extremes Index: 48.6% Properties at risk: 100% Renewable Energy: 6% 1.

Persons: There's, Jeremy Porter, Maria Lehman, Governor Moore, Sarah L, Voisin, Ming Li, Wes Moore, Baltimore's Francis Scott Key, Kevin Dietsch, Danielle Villasana, Joseph Prezioso, Pennsylvania Al Walker, Audrey, Jeff Swensen, Drew Koch, Zbigniew Bzdak, Aaron Wilson, Joe Biden, Lady Jill Biden, Peter Zay, Winter Storm Lorraine, Anibal Martel, Louisiana Farmer Chad Hanks, Justin Sullivan, John Bel Edwards, Jeff Landry, Lokman Organizations: NOAA National Centers for Environmental, First Street Foundation, U.S, Infrastructure, American Society of Civil Engineers, Companies, CNBC, First, Atmospheric Administration, U.S . Department of Energy, Maryland, Preparedness, Washington Post, University of Maryland Center, Environmental, Gov, Energy, Delaware Contractors, Army Corp of Engineers, Texas, Lone Star State, Climate Center, Georgetown University, The, New, New Hampshire Workers, AFP, Getty, Environmental Protection Agency, University of New, Pennsylvania, Grow, Keystone, Pennsylvania Department of Environmental, Chicago Tribune, The Buckeye State, Mississippi Residents, Anadolu, Connecticut Municipal, Winter, Constitution, Connecticut Department of Public Health, Louisiana, NOAA, Task Force, Republican Gov Locations: U.S, States, , Maryland, Silver, Maryland, Montgomery, Chesapeake, Bethany Beach , Delaware, Delaware, Houston , Texas, , Texas, The Texas, New Hampshire, Nashua , New Hampshire, University of New Hampshire, Grow Pittsburgh, Braddock , Pennsylvania, Pittsburgh, Midwest, Ohio, Sandusky, Lake Erie, Erie, Mississippi, Rolling, United States, Connecticut, Hartford Area , Connecticut, Kaplan , Louisiana, Louisiana, Jersey, Lodi , New Jersey

☆ These 10 U.S. states are America's best-prepared for climate change and extreme weather
▼ + stars: | 2024-07-26 | by ( Scott Cohn | ) www.cnbc.com time to read: +12 min

Some states are particularly vulnerable to climate risks, but these ten states are most ready for what Mother Nature has in store. 2024 Infrastructure Score: 276 out of 425 points (Top States Grade: A+) Climate Extremes Index: 14.9% Properties at risk: 96% Renewable energy: 24% 8. 2024 Infrastructure Score: 189 out of 425 points (Top States Grade: C-) Climate Extremes Index: 22.12% Properties at risk: 34% Renewable Energy: 77% 2. While a large percentage of Idaho properties are susceptible to climate risk, the danger of flooding is relatively minimal. 2024 Infrastructure Score: 195 out of 425 points (Top States Grade: C) Climate Extremes Index: 16.54% Properties at Risk: 90% Renewable Energy: 78% 1.

Persons: Jeremy Porter, Pete Buttigieg, Maria Lehman, Nature, Marli Miller, Justin Sullivan, Wolfgang Kaehler, Matt McClain, Randy Olson, Forester John Erixson, Kirby Lee, Jared Polis, Mario Tama, Rushmore, Idaho Neil Lincoln, Brownlee, Robert Gauthier, William, Marcia Lee, David Becker Organizations: First Street Foundation, Infrastructure Law, Transportation, CNBC, American Society of Civil Engineers, First, Atmospheric Administration, U.S . Department of Energy, Oregon Solar, UCG, Getty, Oregon Department of Energy, Washington, Cedar, Bio Energy Washington, Lightrocket, Washington Department of Commerce, Clean Energy Fund, New, Washington Post, Energy, Nebraska, Nebraska Forest, Colorado, University of Colorado, California, Energy Department, Dakota, Idaho Power, Los Angeles Times, Idaho Locations: Louisiana, States, Oregon, Valley , Oregon, Arizona, Phoenix , Arizona, Maricopa County, Phoenix, King, King County , Washington, United States, New Mexico, Mora , NM, Nebraska, Loup, Taylor , Nebraska, Boulder , Colorado, Palm Springs , California, California, Texas, South Dakota, Cavan, Iowa, Idaho, Nevada, Las Vegas

☆ These are America's best states for quality of life in 2024
▼ + stars: | 2024-07-13 | by ( Scott Cohn | ) www.cnbc.com time to read: +13 min

A married couple with a median income can expect to pay nearly 15% of it on child care, according to Child Care Aware of America. 2024 Quality of Life Score: 211 out of 325 points (Top States Grade: B) Strengths: Worker Protections, Inclusiveness, Reproductive Rights Weaknesses: Child Care, Air Quality9. 2024 Quality of Life Score: 213 out of 325 points (Top States Grade: B) Strengths: Worker Protections, Inclusiveness, Voting Rights, Reproductive Rights Weaknesses: Crime, Air Quality, Child Care, Health Care7. 2024 Quality of Life Score: 222 out of 325 points (Top States Grade: B+) Strengths: Health, Air Quality, Crime Weakness: Child Care6. 2024 Quality of Life Score: 265 out of 325 points (Top States Grade: A) Strengths: Crime, Child Care, Health Care, Inclusiveness Weakness: Air Quality1.

Persons: York Alexander Spatari, Brent Doscher, Colin Keaveney, —, Michael Pomante, United Democracy Institute . Long, Jay Inslee, Maine Daniel Grill, Mount Mansfield, Corey Hendrickson Organizations: Companies, Business, Oxfam America, FBI, America ., Care, Getty, United Health Foundation, Center, Election Innovation, Research, Health, Massachusetts People, Financial, First Street Foundation, Connecticut, Washington State, of Columbia, Arizona —, Oregon, Guttmacher Institute . Oregon, United Democracy Institute ., Center for Public, Oregon —, Washington, Evergreen, Democratic Gov, iStock, Mayo Clinic, North Star State, Reproductive, National Conference of State Legislatures, Vermont Locations: States, York, America, America . New York, New Hampshire Cavan, Cavan, Granite State, —, New Hampshire, Research , New Hampshire, Boston Harbor, Boston , Massachusetts, Bay, Massachusetts, New England, Connecticut, England, California, Golden State, Arizona, Hawaii Honolulu, Hawaii, Idaho, Bend , Oregon, Oregon, Beaver, Washington, Mt, Rainier, Park, Columbia's, Minnesota, New Jersey, Jersey, Maine, Northeast, Mount

☆ America's 10 best states for infrastructure, where you can rely on roads, bridges, airports, power, and internet
▼ + stars: | 2024-07-11 | by ( Scott Cohn | ) www.cnbc.com time to read: +14 min

To rate each state's infrastructure, we look at roads, bridges, ports and airports. New in 2024, we evaluate so-called site readiness programs set up in many states to link companies with shovel-ready sites. The Economic Development Partnership of Alabama offers one of the more robust site readiness programs in the nation. Roads, bridges, and broadband are also in excellent shape in Tennessee. A respectable 24% of the state's power comes from renewable energy, putting it in the top half of states.

Persons: Pete Buttigieg, Buttigieg, Gary Hershorn, Brad Lander, Kathy Hochul, Luke Sharrett, Liam Kennedy, Chicago —, Carl Sandburg, Minnesotans, Tim Walz, Nathan Howard, — Virginia, Caitlin O'Hara, Elijah Nouvelage Organizations: Infrastructure Law, CNBC, Law, Business, Empire, Hudson, Corbis, Census, Gov, Indiana, CSX Corp, Bloomberg, Getty, Crossroads of America, U.S . Surface Transportation, Hoosier State, of Energy, Street Foundation, Economic Development, Alabama, Tennessee Downtown, Istock, Volunteer State, Energy Department, Illinois Metra, Chicago, Railroads, Census Bureau, Surface Transportation, Traffic, Midway, Chicago Department of Aviation, Lincoln, Minnesota, Jimkruger, Minnesota's Department of Economic, The Utah Department of Transportation, Beehive State, Planners, Virginia, Amazon.com Inc, —, Washington Post, Georgia Passengers, Hartsfield, Jackson Atlanta International Airport Locations: States, York, Manhattan, New York City, New York, Ohio, Clarksville , Indiana, U.S, Indiana, Alabama, Trinity , Alabama, Yellowhammer State, Tennessee Downtown Nashville , Tennessee, Tennessee, Illinois, Chicago, Rudybalasko, Texas, Minneapolis , Minnesota, Mississippi, Minneapolis, Utah, Salt Lake City, Beehive, Farmington, Ashburn , Virginia, Northern Virginia, Arizona, Phoenix , Arizona, Atlanta , Georgia

☆ 10 states with America's worst infrastructure, and most to gain from billions in federal dollars
▼ + stars: | 2024-07-11 | by ( Scott Cohn | ) www.cnbc.com time to read: +16 min

To evaluate each state's infrastructure, our Top States study considers not just roads, bridges, ports and airports. The state broadband office notes that it is the nation's ninth-largest allocation per capita. The state's power grid is among America's least reliable, according to U.S. Department of Energy data. The severe weather means power outages are frequent as well. Since then, the power outages have persisted, making Maine's grid among the worst in the nation.

Persons: Pete Buttigieg, Seth Martindale, Rusty, Dan Koeck, Doug Burgum, Biden, Mark Miller, Suzanne Kreiter, Jim Justice, Senators Joe Manchin, Shelley Moore Capito, Mississippi Brenda Gavin, Elnora Ross, Michael Democker, Robert Gauthier, We're, Lauren Owens Lambert, Logan —, stoplights, Brianna Soukup, Lance King Organizations: Companies, Business, CNBC, Infrastructure Law, Arkansas Turrell, Arkansas Broadband Office, Law, Arkansas Economic Development Corporation, North Dakota, Washington Post, Peace Garden State, U.S . Department of Energy, Power Company, Dakota Utilities, Montana Bison, Getty, Industrial, Rte, Boston Globe, Census, U.S . Department of Transportation, West Virginia, Gov, U.S, Senators, West Virginia Coal Association, Justice, Manchin, Virginia Economic, First Street Foundation, Hawaii, Los Angeles Times, Afp, Boston Regional Airport, Spirit Airlines, Orlando, Logan, JetBlue, White Mountain Cable, Portland Press, Portland Press Herald, Central Maine Power, Power, Energy Department, Maine Locations: States, Arkansas, Arkansas Turrell Arkansas, Turrell Arkansas, Underwood, Peace, North Dakota, Minnesota, Dakota, Buffalo, Yellowstone, Montana, Massachusetts, Canton, Bay State, Boston, Kanawha, Poca, West Virginia, Winfield, Putnam County, Mountain State, Virginia, Mississippi, Louin , Mississippi, Gulf, BroadbandNow, Lahaina , Hawaii, Maui, Lahaina, Western Maui, Hampshire, Hampton , New Hampshire, Manchester, New Hampshire, New England, Maine, Epsom , New Hampshire, Brighton, Woodford Street, Portland, Alaska, Dalton, Coldfoot , Alaska

☆ Photos this week: June 27-July 4, 2024
▼ + stars: | 2024-07-04 | by ( Emmalee Reed | ) edition.cnn.com time to read: 1 min

Hurricane Beryl, which tore through Caribbean islands this week, became the earliest Category 5 hurricane ever recorded in the Atlantic. A Category 5 is the highest on the Saffir-Simpson scale, with sustained winds of 157 mph or greater. But it was only the second Category 5 to ever be recorded in the Atlantic in the month of July. The storm’s strength has been fed by abnormally warm ocean waters driven by planet-warming fossil fuel pollution. Here are some of the stories that made headlines over the past week, as well as some photos that caught our eye.

Persons: ” Jim Kossin Organizations: Hurricanes, Street Foundation, CNN Locations: Yucatan

☆ Homebuyers are flocking to areas most exposed to extreme weather risk and pushing prices higher, JPMorgan says
▼ + stars: | 2024-02-26 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

But the firm says rising insurance costs could eventually dampen demand. The researchers then gave each county a composite climate risk score, measured against each area's house price index. AdvertisementA positive relationship also emerged between higher climate risk and population growth, indicating that more people were migrating in than leaving these areas. Others may simply have no intent on selling, and consider themselves too old to experience these rising costs. But changes to property insurance may force prospective buyers to give more attention to climate risks, JPMorgan noted.

Persons: Alexander Wise, Jan Loeys, Risks, Redfin Organizations: JPMorgan, Service, Foundation Locations: Florida

☆ People are moving out of cities with poor air quality — but many end up facing other climate risks
▼ + stars: | 2024-02-16 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

Much of the Sunbelt "has [a] low air-quality risk but it has high heat risk, high flood risk, high wind risk from things like hurricanes," she said. When looking at moving trends within counties and cities from 2000 to 2020 paired with flood risks, researchers at First Street Foundation noticed clear signals of people moving away from areas exposed to flooding. Additionally, more than 3.2 million (35.5%) of those residents said they left specifically because of the flood risk. 'I personally was impacted by air quality'Over 85% of homes in 13 major cities are highly exposed to poor air quality; nine are in California and the rest are spread out in Washington, Oregon and Idaho, Redfin found. "I personally was impacted by air quality," Fairweather said.

Persons: Eduardo Munoz Alvarez, Fairweather, We're, Jeremy Porter, Porter, Redfin Organizations: Getty, First Street Foundation, CNBC, riskier metros Locations: West Coast, Sunbelt, Arizona , Florida , Nevada , North Carolina, South Carolina , Texas, Tennessee, New York, U.S, California, Washington , Oregon, Idaho, Seattle, Wisconsin, riskier

☆ Over 18 million rental units are exposed to climate hazards as extreme weather becomes more common, Harvard study finds
▼ + stars: | 2024-02-07 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +5 min

D3sign | Stone | Getty ImagesExtreme weather and climate hazards are becoming more frequent, posing a unique threat not only for homeowners, but for renters. Over 18 million rental units across the U.S. are exposed to climate and weather-related hazards, according to the latest American Rental Housing Report from Harvard University's Joint Center for Housing Studies. While they're a smaller share of the rental stock, 52% of manufactured units are located in areas with extreme weather exposure. "It's sort of a compounding risk when we see these increases in climate hazards and start impacting people who can't afford to move away from the risk." Check what type of disasters are included in your renters insurance policy.

Persons: Sophia Wedeen, Jeremy Porter, Wedeen, Porter Organizations: Harvard University's, for Housing Studies, Harvard, FEMA, Survey, Joint Center for Housing Studies, Finance, NOAA National Centers for Environmental, First Street Foundation Locations: U.S, New York

☆ 18 million rental units are at risk as climate disasters get more common, Harvard study says
▼ + stars: | 2024-02-07 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

More than 18 million occupied rental units are exposed to climate-related risks, Harvard's Joint Center for Housing Studies said in a new study. This could strain rental stock supply, boost prices, and cause a jump in evictions. Specifically, about 18.2 million units are at risk of substantial loss damage, whether from hurricanes, wildfires, floods, earthquakes and similar hazards. "Notably, newer rental units are much more likely to be vulnerable to weather- and climate-related hazards. US rental supply is now at its oldest level ever, with millions of rental units deficient in some form.

Persons: It's, DeltaTerra's Dave Burt Organizations: for Housing Studies, Service, Harvard's, NOAA National Centers for Environmental, Street Foundation

They propose a sixth category for storms with winds that exceed 192 miles per hour (309 kilometers per hour). Currently, storms with winds of 157 mph (252 kilometers per hour) or higher are Category 5. From time to time, experts have proposed a Category 6, especially since Typhoon Haiyan reached 195 mph wind speeds (315 kilometers per hour) over the open Pacific. Wehner said that as temperatures rise, the number of days with conditions ripe for potential Category 6 storms in the Gulf of Mexico will grow. “Perhaps I'll change my tune when a rapidly intensifying storm in the Gulf achieves a Category 6,” Corbosiero said in an email.

Persons: Michael Wehner, Brian McNoldy, Haiyan, Patricia, ”, Jim Kossin, Kossin, Wehner, Kerry Emanuel, Jamie Rhome, Simpson, McNoldy, Craig Fugate, Kristen Corbosiero, ” Corbosiero, ___ Read, Seth Borenstein Organizations: National Academy of Sciences, Associated Press, Lawrence Berkley National, University of Miami, dateline, NOAA, First Street Foundation . Pacific, MIT, National Hurricane Center, Emergency Management, University of Albany Locations: Philippines, Gulf of Mexico, United States, Australia, Jalisco, Mexico, Taiwan, China, Asia, Russia, of Mexico, Caribbean, Gulf, AP.org

☆ Insurers such as State Farm and Allstate are leaving fire- and flood-prone areas. Home values could take a hit
▼ + stars: | 2024-02-05 | by ( Lindsey Jacobson | In | ) www.cnbc.com time to read: +3 min

What happens when a homeowner can't get insuranceDarlene Tucker and Tom PinterWithout insurance, many homeowners can find themselves in big financial trouble. Darlene Tucker, 66, and Tom Pinter, 68, are longtime homeowners in Sonora, California. Darlene Tucker and Tom Pinter's home in Sonora, California. Dogs play at Darlene Tucker and Tom Pinter's home in Sonora, California. Darlene Tucker and Tom Pinter

Persons: Darlene Tucker, Tom Pinter, Tucker, Pinter, Tom Pinter's, — that's, Porter, That's, Kevelighan Organizations: Allstate, CNBC, Insurance, homebuyers Experts, Insurance Information Institute Locations: Sonora , California, California

‘A Beautiful Place That Has a Dragon’: Where Hurricane Risk Meets Booming GrowthThe hurricanes keep coming, and the people, too: The fastest-growing places along the Atlantic coast this century are also among the most hurricane-prone. And rising sea levels make storm surges more damaging and coastal flooding more frequent. And this booming coastal population is, by many accounts, a larger contributor to rising hurricane risks than climate change. When Gail Hart moved from Arizona to retire in Wilmington, N.C., in 2017, she hadn’t considered the hurricane risk. Still said, “where do you put 100,000 people?”The housing crunch is one of many tensions playing out between wealthy coastal communities and those who live nearby.

Persons: Matthew, Dorian, Isaias, Ian, “, ”, Kathie Dello, Gail Hart, hadn’t, ” Gail Hart, Del Webb, Hurricane Florence, Hart, “ There’s, Steven Still, Amanda Martin, North, Mr, Still, Jenny Brennan, David McIntire, McIntire, O’Leary, Ms, Water, O’Leary’s, Kevin Mishoe, Mishoe, Gina, Karen Willis Amspacher, Amspacher, “ It’s, It’s, she’s, Sharon Valentine, Hurricane Fran, Wilmington’s Del, Valentine, Leonard Bull Organizations: Hurricanes, Hurricane, First Street Foundation, Atlantic, National Flood Insurance, Southern Environmental Law Center, States, Brunswick, Myrtle, Association, Hurricane Florence, Down Locations: United States, Myrtle Beach, S.C, Wilmington, N.C, Carolinas, Florence, Carolina, Gulf, Louisiana, Florida, North Carolina’s, Kure Beach, Horry County, Brunswick County, Arizona, Tula, New Hanover County, U.S, It’s, North Carolina, Conway, Horry, Hurricane, Hurricane Florence, Bucksport, Carteret County, —, Banks, Stacy, Harkers, Fayetteville, Wilmington’s, Wilmington’s Del Webb

☆ America's cities are vying for a hot new title: best place to ride out the coming dystopia
▼ + stars: | 2023-11-02 | by ( Matthew E. Kahn | ) www.businessinsider.com time to read: +14 min

For decades, cities have duked it out for titles like "best city for business" or "healthiest city in America," but now they're starting to compete for a new title: best place to ride out dystopia. While Sun Belt cities are working to mitigate these challenges, the increased risks also create an opportunity for once forgotten cities. The declaration has been followed up with investments in key areas — climate resilience was one of the four pillars that made up the city's four-year strategic plan released at the start of 2023. And the cities that could become climate havens have their weather downsides — Buffalo will still have some harsh winters, too. If Buffalo, Detroit, Pittsburgh, and other cities succeed in their climate-resilience agendas, they will grow, attracting residents from more at-risk areas of the country.

Persons: Tesla, Byron Brown, Redfin, Matthew E, Kahn Organizations: Los Angeles, Fortune, Sun, National Oceanic, Atmospheric Administration, Association of Environmental, Federal Emergency Management Agency, FBI, Street Foundation, Pittsburgh, The New York Times, University of Southern, Hoover Institution Locations: America, West, Midwest, Dallas, Houston, Atlanta, Buffalo , New York, Detroit, USA, Florida, California, South, Baltimore, Cincinnati, Phoenix, Angeles County, Miami, Dade County, Lake Erie, Buffalo, Duluth , Minnesota, Grand Rapids , Michigan, Chicago, Northern, Pittsburgh, Rust, Los Angeles, University of Southern California

☆ Millennials looking to buy a home are worrying about climate risk. They're not wrong.
▼ + stars: | 2023-09-25 | by ( Dan Latu | ) www.businessinsider.com time to read: +5 min

Over 80% of prospective homebuyers said climate risk impacted their search, Zillow found. Over 80% of prospective homebuyers said climate risk impacted their search, Zillow found. AdvertisementAdvertisementWhile millennials logged higher concern over climate issues than their Gen Z counterparts, it turns out millennials' budget is often putting them in the path of climate risk. Zillow found 36% of millennial buyers were considering moving to an area with "greater climate risk'" compared with 19% of Gen Zers. The climate crisis puts coastal cities in Florida at a higher risk of flooding.

Persons: Zillow, Millennials, millennials, Zers, Manny Garcia, Zillow's, Garcia, Bob Stephens, Stephens, Jeffrey Greenberg, Jeremy Porter, Todd Bevington Organizations: Service, Carolinas, Insurance, First Street Foundation, AP Locations: Texas , Florida, Florida, California, Louisiana, Lahaina, Vermont, Maine, New York, Asheville , North Carolina

☆ Home values could collapse as rising climate dangers wreak havoc on insurance markets, study says
▼ + stars: | 2023-09-22 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

US home values could collapse as climate change boosts insurance costs, a study from First Street Foundation said. First Street estimated that 39 million homes are still insured at prices that don't match the climate risks they face. Either way, insurance costs are rising, and First Street estimated the impact they will have on a home's value by way of its income potential. For example, a home in California currently valued at $296,000 would see a 39% drop after repricing for estimated insurance risk. Still, despite the climate risks, the housing affordability crisis has boosted migration to areas vulnerable to floods, wildfires, and extreme heat.

Organizations: First Street Foundation, First, Service, Foundation Locations: Wall, Silicon, California, West Palm Beach , Florida, Louisiana, Plaquemines Parish

SACRAMENTO, Calif. (AP) — A new plan from California's insurance commissioner aims to stop the nation's top insurers from leaving the wildfire-prone state by letting them consider climate risks when setting their prices. Unlike most states, California tightly restricts how insurance companies can price policies. Companies aren't allowed to factor in current or future risks when deciding how much to charge for an insurance policy. It’s one reason why, in the past year, seven of California’s top insurance companies have paused or restricted new business in the state. On Thursday, California Insurance Commissioner Ricardo Lara said the state will write new rules to let insurers look to the future when setting their rates.

Persons: aren't, Ricardo Lara, ” Lara, Denni Ritter, Amy Bach, United, “, Ken Sweet Organizations: First Street Foundation, California, American, Casualty Insurance Association, Consumer Watchdog, Associated Press Locations: SACRAMENTO, Calif, California, Florida, New York

The U.S. homeowner’s insurance industry has had three straight years of underwriting losses, according to credit rating agency AM Best. Record numbers of Americans are now insured through state-affiliated “insurers of last resort” like California’s FAIR Plan, or Louisiana or Florida’s Citizens property insurance companies. These programs were designed to insure properties where private insurance companies have refused to insure or the price for private insurance is too expensive. In Florida, Citizens Property Insurance Corp. now has 1.4 million homeowners’ policies in effect, nearly triple in five years. “It used to be homeowner's insurance was an afterthought when you are looking at buying a property.

Persons: you’re, ”, California Sen, Bill Dodd, Jeremy Porter, Fannie Mae, Todd Bevington, “ I’ve, Jen Goodlin, ‘, ’ ”, “ We’ve, ” Dodd, Dodd, Porter, Guy Carpenter, Lara Mowery, Mowery, ” Mowery, That’s, ” Bevington, Adam Beam, Janie Har Organizations: First Street Foundation, Bank of America, Treasury Department, Paradise, FAIR, Citizens Property Insurance Corp, Farm, Allstate, National Flood Insurance, Swiss, Munich Re, Hurricane Locations: California, Florida, Louisiana, Lahaina, Vermont, Maine, New York, U.S, “, Paradise, Northern California, Colorado, Munich, New Orleans, Gulf, Asheland, N.C, Sacramento, Calif, San Francisco

CNN —Millions of American homeowners could see insurance rates surge in the coming years in part due to worsening climate disasters, new data shows. It’s another alarming sign for the future of America’s homeowners’ insurance market. “We’re still kind of at the forefront of the insurance industry pricing in climate risk into the real estate market,” Porter told CNN. Premiums are at risk of surging to a lesser extent in cities across the country, First Street data shows. “I know where the places are where people are dropping their insurance — it’s Florida, Louisiana, California and Colorado,” Bach told CNN.

Persons: ”, David Jones, Jeremy Porter, “, ” Porter, Hurricane Ian, Matias J, Jones, ” Jones, Amy Bach, Bach, ” Bach, Kyle Grillot, Reuters Jones, Porter, ‘ I’m, it’s Organizations: CNN, Foundation, UC Berkeley’s Center for Law, Energy, Hurricane, Miami Herald, Tribune, Service, Los, National Flood Insurance, FEMA, United, Residents, Reuters Locations: California , Florida, Louisiana, California, Matlacha , Florida, Florida, Texas, Vermont, Montpelier . Kentucky, West Virginia, Miami, Jacksonville, New Orleans, East Coast, Atlantic City , New Jersey, Virginia Beach, Norfolk , Virginia, Wilmington , North Carolina, Charleston , South Carolina, Savannah , Georgia, New York City, Phoenix, Chicago , Pittsburgh, Louisville, Cincinnati, West Coast, Riverside , California, Los Angeles, Gulf Coast, Plaquemines Parish , Louisiana, Collier County , Florida, Colorado, Wrightwood , California

☆ Recent Category 5 hurricanes add to a growing trend powered by warmer oceans
▼ + stars: | 2023-09-08 | by ( Rachel Ramirez | ) edition.cnn.com time to read: +4 min

“It is very likely that there are more Category 5 storms now than there were 40 years ago,” Kossin told CNN. Rapid intensification has been happening more and more as storms are approaching landfall, making them harder to prepare for. Hurricane Idalia rapidly intensified by 55 mph in 24 hours before landfall along Florida’s Big Bend as a Category 4 hurricane late last month. “There is little doubt that the exceptionally warm ocean waters we’re seeing have a human fingerprint on them,” Kossin said. “Jova is sitting in the middle of this, and the warm water certainly fueled the rapid intensification,” he added.

Persons: Hurricane Lee, Lee, Kevin Reed, Jim Kossin, ” Kossin, Reed, It’s, ” Reed, Hurricane Idalia, John Kaplan, Jova Organizations: CNN, Hurricane, North Atlantic, Stony Brook, University of Wisconsin, Street Foundation, National Oceanic, Atmospheric Administration Locations: North, Stony, Madison, Brooklyn, North Pacific

CEDAR KEY, Fla. — As cleanup begins in the aftermath of Hurricane Idalia, the storm has served as a stark reminder that Florida's insurance industry remains in flux. But many of those homeowners face uncertainty amid the upheaval that has emerged in Florida's insurance industry in recent years. A thinning insurance market that is beset by more regular hurricanes has caused insurance policy costs to skyrocket. The state's insurance industry is preparing to lose four insurers since last year — Farmers Insurance, Bankers Insurance, Centauri Insurance and Lexington Insurance. Aggravating the problem, 82% of Floridians do not have flood insurance, which is typically operated by the National Flood Insurance Program, a federal program run by the Federal Emergency Management Agency.

Persons: Idalia, Chris Draghi, That's, Gregory Buck, Buck, Aimee Firestine, Firestine, Amy Bach, United, Bach, Mark Friedlander, Friedlander, Gabe Gutierrez, Phil McCausland, Melissa Chan Organizations: Insurance Information Institute, U.S, — Farmers Insurance, Bankers Insurance, Centauri Insurance, Lexington Insurance . Farmers Insurance, National, Experts Insurance, Homeowners, Insurance, Property Insurance Corp, National Flood Insurance, Federal Emergency Management Agency, Congress, First Street Foundation, FEMA, Cedar Key Locations: Fla, Florida's Big Bend, Florida, Georgia, Florida , Georgia, South Carolina, Cedar, America, Taylor County, Bend, New York City

☆ These are the states in America that are the least prepared for extreme weather
▼ + stars: | 2023-07-28 | by ( Scott Cohn | ) www.cnbc.com time to read: +11 min

Some states are in good shape to handle whatever the climate throws at them, but these are the states most at risk. 2023 Infrastructure score: 228 out of 390 points (Top States grade: B) Climate Extremes Index: 21.16% Properties at risk: 45.2% Renewable energy: 10.6%9. 2023 Infrastructure score: 165 out of 390 points (Top States grade: D) Climate Extremes Index: 8.7% Properties at risk: 2.8% Renewable energy: 12%8. Connecticut is home to the nation's first "green bank," which uses public dollars to leverage private investment in renewable energy. 2023 Infrastructure score: 227 out of 390 points (Top States grade: B) Climate Extremes Index: 21.16% Properties at risk: 61% Renewable energy: 12.5%1.

Persons: Jeremy Porter, York Snow, Joed Viera, Kelly Giddens, Daniel Hinton, Jessica Mcgowan, wades, Tim Boyle, Tony Evers, Scott Olson, Josh Edelson, Gavin Newsom, —, Marcellus, Tom Wolf, Josh Shapiro, Ida, Brendan McDermid, Hurricane Ida, Richard Bunting, Alex Hamilton, Hurricane Irene, Mark Wilson, Joe Biden's, Ted Shaffrey, Hurricane Nicole, Paul Hennessy, Marco Bello Organizations: Street Foundation, CNBC, Business, First, Oceanic, Atmospheric Administration, NOAA, U.S, Department of Energy, Afp, Getty, National Weather Service, Micron Technology, Alabama, University of Alabama, Illinois —, Badger State, Gov, Carolina, Carolinas, AFP, EQT Corp, Bloomberg, Reuters, Garden, State, Anadolu Agency, Sunshine State, Farmers Insurance, AAA Locations: States, York, Buffalo , New York, Empire, New York, Syracuse, Alabama TUSCALOOSA, AL, Cedar, Tuscaloosa , Alabama, Texas, Oklahoma, Alabama, Gulf, Wisconsin, Prairie du Chien , WI, Hurricane, Charleston , South Carolina, Florida, Georgetown , South Carolina, South Carolina, California, Oroville, Oroville , California, , California, Pennsylvania, Washington Township , Pennsylvania, U.S, Jersey, Oakwood, Elizabeth , New Jersey, Garden State , New Jersey, New Jersey, Delaware, Lewes , Delaware, Rhode, Connecticut, New Haven , Connecticut, Wilbur, , Florida, Louisiana, Kenner , Louisiana

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