Not Just Florida: Extreme Weather Raising Mortgage Risk in Mass., Too
Massachusetts has seen seven, billion-dollar weather disasters in the past two years. It’s a fundamental shift lenders can’t ignore.
Climate Change Is Moving Faster than Flood Insurance, Forcing Mass. Banks to Adapt
Worsening extreme weather, linked to climate change, is bringing catastrophic flooding to homes that have never seen it before, and it’s putting financial institutions risk of serious losses.
Draft Coastal Development Regs Call for No-Build Areas
With more frequent and intense storms battering Massachusetts’ shores, the state’s Department of Environmental Protection released new draft regulations on Friday to “protect both communities and infrastructure from the impacts of climate change.”
Homeowners Face Rising Insurance Rates as Climate Change Makes Disasters More Common
A growing number of Americans are finding it difficult to afford insurance on their homes, a problem only expected to worsen because insurers and lawmakers have underestimated the impact of climate change, a new report says.
Homebuyers Need Better Flood Risk Info, Planning Group Says
The Metropolitan Area Planning Council is calling for the state to require flood history disclosure for potential homebuyers and renters, after the council’s analysis of stormwater flooding in 2010 showed existing tools to predict flooding were unreliable.
Hurricane Ian Threatens an Already Unstable Insurance Market
Florida’s property insurance market was already in peril. Now comes Hurricane Ian.
Weather Weighs on Insurance, Home Lending Decisions
The cost of homeowners insurance is on the rise, and not just because property values went up – almost 20 percent across the board – during last year’s homebuying frenzy.
New Private Flood Insurance Product Launches in Mass.
A new private flood insurance product available in Massachusetts uses technology to pinpoint risks and provide coverage on a house-by-house basis.
Private Flood Policies Bear Scrutiny
Because of climate change, Spencer Glendon – a senior fellow at the Woodwell Climate Research Center, one of the world’s most respected climate think tanks – said recently that it may not be long before every homeowner in the country will need flood insurance.
Realtor.com Leads the Way on Flood Risks
Last week’s decision by Realtor.com to explicitly identify a home listing’s flood risk is a gutsy one, and one which the real estate industry should consider emulating.
Realtor.com Becomes First Listings Site to Map Flood Risk
Realtor.com has become the first major home listings site to integrate a flood risk map into each property in its database.
Banker & Tradesman’s Editorial Cartoon: Rescue Paperwork
Stranded in your house by a flood? Please fill these forms out in triplicate and have a check ready before stepping on board the boat.
