Current:Home > FinanceFlorida's coastal homes may lose value as climate-fueled storms intensify insurance risk-LoTradeCoin
Florida's coastal homes may lose value as climate-fueled storms intensify insurance risk
View Date:2024-12-24 09:49:25
Climate-fueled disasters like Hurricane Ian are wreaking havoc on home values across the nation, but Florida’s messy insurance market makes it one of the most stressed, new research out of a nonprofit climate modeling group indicates.
High insurance premiums and a state-backed requirement that homeowners covered by the state-backed insurer of last resort enroll in the National Flood Insurance Program over the next three years could drop home values up to 40% in Florida in the next 30 years, data provided by First Street Foundation shows. And climate and insurance experts say that may further gentrify Florida’s coastal regions and barrier islands.
Lower your auto insurance costs: Find the best car insurance of 2023
veryGood! (14)
Related
- Suspect arrested after deadly Tuskegee University homecoming shooting
- 'This dude is cool': 'Cross' star Aldis Hodge brings realism to literary detective
- Patrick Mahomes Breaks Silence on Frustrating Robbery Amid Ongoing Investigation
- The results are in: Peanut the Squirrel did not have rabies, county official says
- As the transition unfolds, Trump eyes one of his favorite targets: US intelligence
- Women suing over Idaho’s abortion ban describe dangerous pregnancies, becoming ‘medical refugees’
- 2 credit unions in Mississippi and Louisiana are planning to merge
- Caitlin Clark's gold Nike golf shoes turn heads at The Annika LPGA pro-am
- NCT DREAM enters the 'DREAMSCAPE': Members on new album, its concept and songwriting
- Just Eat Takeaway sells Grubhub for $650 million, just 3 years after buying the app for $7.3 billion
Ranking
- Trump has promised to ‘save TikTok’. What happens next is less clear
- Michelle Obama Is Diving Back into the Dating World—But It’s Not What You Think
- Amazon Black Friday 2024 sales event will start Nov. 21: See some of the deals
- Sydney Sweeney Slams Women Empowerment in the Industry as Being Fake
- Will Trump curb transgender rights? After election, community prepares for worst
- Cold case arrest: Florida man being held in decades-old Massachusetts double murder
- Dave Coulier Says He's OK If This Is the End Amid Stage 3 Non-Hodgkin’s Lymphoma Battle
- Quincy Jones' Cause of Death Revealed
Recommendation
-
Historian Doris Kearns Goodwin to kick off fundraising effort for Ohio women’s suffrage monument
-
Infowars auction could determine whether Alex Jones is kicked off its platforms
-
What is prize money for NBA Cup in-season tournament? Players get boost in 2024
-
Nevada trial set for ‘Dances with Wolves’ actor in newly-revived sex abuse case
-
Halle Berry Rocks Sheer Dress She Wore to 2002 Oscars 22 Years Later
-
LSU student arrested over threats to governor who wanted a tiger at college football games
-
Former West Virginia jail officer pleads guilty to civil rights violation in fatal assault on inmate
-
Stock market today: Asian shares meander, tracking Wall Street’s mixed finish as dollar surges