Christopher MimsSep 4, 2023

Evidence of America’s — and the world’s — climate migrations are mounting.

In this thread, I’ll collect all the papers, news items and anecdotes I find on the subject. Feel free to contribute by using this tag:

#climatemigration

It’s starting with insurers. When homes are destroyed and homeowners lose everything, with no recourse, market forces herd people away from the zones of greatest vulnerability:

https://www.washingtonpost.com/business/2023/09/03/natural-disaster-climate-insurance/

#climate #climatechange #adaptation #climateimpacts

🧵

Home insurers cut natural disasters from policies as climate risks grow

Major insurers say they will cut out damage caused by hurricanes, wind and hail from policies underwriting property along coastlines and in wildfire country.

The Washington Post
Show threadNicole Parsons

@mimsical

That's not what happens though.

Climate migration is forcing people to abandon their real estate assets & it's being scooped up by the wealthy.

When insurance companies were permitted to go bankrupt & not provide settlements. In New Orleans, Florida, & the Carolinas, prime real estate is carpetbagged.

The rich, in essence, are self-insured, & yet...

The rules are changed so taxpayer funded disaster relief & public insurance covers their losses, repeatedly.
https://www.wsj.com/articles/one-house-22-floods-repeated-claims-drain-federal-insurance-program-1505467830

One House, 22 Floods: Repeated Claims Drain Federal Insurance Program

Experts say more such homes should be purchased and razed, but funds for buyouts are lacking and residents push back

WSJ
Sep 4, 2023 at 3:22pmWeb