The Risks of Targeting Risky Regions

URL: http://grist.org/housing/oregon-wildfire-risk-map-home-values/

Promoting climate change adaptation can involve behaviors related to the risks of fire and flooding. Strategies that target properties at risk can run into resistance when their owners fear that their insurance rates will rise and their property values will decrease.


After several disasterous wildfires, the State of Oregon USA passed a bipartisan bill to help vulnerable residents fireproof their homes. All seemed fine until the State developed a map indicating which properties were vulnerable. This created tremendous resistance as many people thought this would increase their insurance costs and make their properties less valuable.

An analysis of the US housing market published in 2021 showed that flood risk can reduce prices or demand. Sophisticated commercial buyers and other more risk-aware buyers were the most price sensitive, and many properties remained overpriced, because flood risk had not been fully taken into account. Read more about this study.

Topics: Environment:, Climate change mitigation, Climate change adaptation
Location: US-Oregon
Resource Type: strategies and interventions
Publisher: GRIST
Date Last Updated: 2023-03-14 16:35:46

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