The big picture concern is this: negative supply shocks driven by climate change are exacerbating a longstanding affordability crisis in US housing markets. The cost of adequate housing has become a huge and increasing burden for the poor, young adults, seniors on limited incomes, and other vulnerable populations. Climate risks make matters worse for all these groups, and fuels housing insecurity and homelessness. This problem is more severe for low-income households as well as for black and senior households.
Climate change impacts often bring underlying injustices into sharper focus. That is especially true for housing where extreme events like wildfires in the west, and flooding and hurricanes in other parts of the country, are making an affordability crisis for tens of millions of US households worse.
By Brad Barham, SD350 Member
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