Migration has been a reality since the beginning of time. Animals migrate seasonally to follow their food source and water. Even ancient mankind migrated following the animals, their food source.
In this age of grocery stores and indoor plumbing, you would think that migrating humans are a thing of the past, but real estate analysts say differently, thanks to extreme weather.
Climate migration is becoming more prevalent as homes become more expensive, borrowing money more expensive, and insurance harder to come by in some areas.
“All of these costs associated with climate change are actually becoming a real drag on not only our economy but particular areas that are, let’s say, high-risk areas,” Jesse Keenan, professor of sustainable real estate at Tulane University told FOX Weather.
“Mortgages more expensive, rents become more expensive, uninsured losses: These are all things that just add a cost burden in America, where we already live with a tremendous lack of affordability in our housing stock,” he continued…