ExclusiveIndustry News

Climate change will plunge the real estate industry into chaos

More wildfires and more floods are certain. But not all is lost — and individuals can help
  • Rising seas threaten 1.9 million homes nationwide, and the area at risk of wildfires is poised to expand between 100 and 700 percent over this century, due to climate change.
  • However, the increased installation of clean energy and climate awareness can help us avoid a 'tipping point,' according to a NASA scientist.

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

LOS ANGELES -- More wildfires, more flooding, millions of lost homes and people displaced. These are just some of the more certain outcomes of human-induced climate change, and all three will spell big trouble for properties around the world and the United States in the coming decades -- including coveted luxury houses along the U.S. coasts and in California. That's the bad news delivered by Mika Tosca, a climate scientist at NASA JPL (Jet Propulsion Laboratory) and a faculty member at the School of the Art Institute of Chicago, during her talk today before 500-plus attendees at Inman Luxury Connect in Los Angeles. "We're likely to see rising sea levels threatening coastal development," Tosca said. "A huge proportion of the United States and global population lives within five miles of the coast." It's not just the slow and steady rising of the seas that the real estate industry should worry about. "It's actually from storm surge and high tides," Tosca explained, hi...