Economy & Business

"The Climate Risk to the Mortgage System"

"As sea levels rise and natural disasters become more intense, homes in low-lying coastal areas or tinder-dry mountains are starting to lose value. That’s a problem for the finances of Fannie Mae and Freddie Mac, the government-sponsored enterprises that back half of the nation’s outstanding mortgages — and keep the residential real estate market liquid by buying mortgages from banks and repackaging them into securities."

Source: NYTimes, 12/09/2024

Climate Risks Are Driving Up Insurance Premiums Around The US – Visualized

"Concern over the climate crisis may evaporate in the White House from January, but its financial costs are now starkly apparent to Americans in the form of soaring home insurance premiums – with those in the riskiest areas for floods, storms and wildfires suffering the steepest rises of all."

Source: Guardian, 12/06/2024

Trump Rejection of Transition Deal Adds Wrinkle to Its Transparency Pledges

"The refusal by President-elect Donald J. Trump’s team to sign a transition agreement with the General Services Administration means that, despite the team’s pledges to abide by several transparency customs of presidential handovers, it isn’t legally bound to follow through on its promises."

Source: NYTimes, 12/02/2024

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