Episode Summary:
The conversation covers topics from the IMN Miami conference, including the impact of climate change on housing, extreme weather’s financial implications, and the insurance crisis. Key themes include climate resilience, risk management, government roles, and the need to quantify climate costs. The discussion also explores leadership, energy theory, AI’s effects on jobs, and the future of housing finance. It concludes with an invitation for listeners to engage further with these pressing issues.
Overview of Episode 55
Craig Fuhr and Jack BeVier host the Real Investor Radio podcast, diving into the future of real estate in climate change with guest Toni Moss. They explore impacts on housing markets, insurance, and investor strategies.
Highlights from the IMN Conference
Jack shares takeaways from the IMN Miami conference, where discussions centered on financing, tightening budgets, and rising insurance costs. These challenges reflect broader concerns for investors, especially in adapting to the future of real estate in climate change.
Toni Moss: Visionary in Real Estate and Climate Awareness
Toni Moss, CEO of America Catalyst, discusses her history in real estate finance and the catalyst events she created to spark meaningful industry conversations. Moss uses these forums to explore topics like globalization and housing market resilience.
Addressing the Insurance Crisis and Extreme Weather Risks
Jack and Toni delve into how climate change impacts real estate, particularly with increased insurance rates. The future of real estate in climate change includes rising operational costs and heightened risk for property owners. Toni emphasizes that both homeowners and investors face greater financial vulnerability.
Building Climate Resilience into Real Estate Investment
Toni suggests “hardening homes” as a proactive strategy for investors in the face of climate change. Retrofitting properties to withstand extreme weather events could reduce insurance premiums and enhance marketability. Consequently, investors could better adapt to the future of real estate in climate change.
The Role of Government and Policy in Real Estate Risk Management
Toni and Jack discuss government responsibility in risk management. They stress the importance of updated FEMA maps and forward-thinking policies to address risks posed by climate change on housing and insurance markets.
Future Outlook: Preparing for an Uninsurable Market
Toni urges investors to contemplate an “uninsurable future,” where high-risk areas may see devaluation. The discussion covers potential declines in home values and the need to reshape housing finance to support resilience, critical for the future of real estate in climate change.
