“Homeownership is not simply a financial decision, but also a deeply emotional one. It’s core to the American dream, representing financial permanence and a sense of stability for young and old families alike. But climate change is likely making homeownership more expensive and less predictable in large swaths of the country, and it’s only getting worse,” writes Ben Keys.
“As insurance premiums and property taxes rise, and future home values grow more uncertain, it’s time for some prospective buyers set on living in areas with high risk of hurricanes, floods, wildfires and tornadoes to reconsider homeownership as a financial goal. Renting is quickly becoming a better way for many people to enjoy these places with much less financial baggage.”
