Climate Change Endangers American Dream: $1.46 Trillion Loss in Home Values

According to First Street's projections, US home values are likely to decline by $1.46 trillion by 2055, with an average drop of 6%. It is anticipated that insurance premiums will increase by 29% across the nation, leading an estimated 55 million Americans to relocate due to climate-related risks. These forecasts indicate significant obstacles to traditional wealth accumulation through homeownership, as climate hazards redefine the real estate landscape. Sun Belt states are expected to shoulder 40% of the financial burden from natural disasters, resulting in property devaluations ranging from 10% to 40% in certain counties.