House hunting in today’s world comes with a lot of decisions: Do you want to live somewhere urban or rural? How many bedrooms do you need? Are you okay living in a place where the streets frequently flood or the skies are blackened by wildfire smoke for weeks on end?
Climate change is causing many Americans to rethink where they want to live, according to a new survey conducted by real estate brokerage Redfin. The survey of 2,000 U.S. residents — conducted between February 25 and March 1 — reveals that about half of the 628 respondents planning to move in the next year are motivated in part by extreme temperatures or the increasing frequency and intensity of natural disasters. Three-quarters of all respondents said they would be hesitant to buy a home in a community facing climate risks, and about a quarter wouldn’t purchase property there even if it were more affordable.Image courtesy Redfin
Such buying trends have serious environmental justice implications. If people flock to the areas least impacted by climate change, prices in those communities will skyrocket because the homes are in higher demand, said Redfin’s chief economist Daryl Fair... Read more