Thursday, June 1, 2023

CoreLogic: Climate Change Influenced Hurricane Season Threatens 33M Homes

Irvine-based CoreLogic, which provides property data, said that it has calculated that 33 million U.S. properties are at risk of hurricane-force wind damage, as a climate-change influenced hurricane season kicks off. The company said high-risk areas include the metro areas of New York City, Houston and Miami/Ft. Lauderdale. CoreLogic said climate change is expected to alter hurricane activity, intensifying related risks across U.S. coastal counties; it also calculated $11.6 trillion in total reconstruction cost value is at risk in those areas. CoreLogic cited research that suggests that, "by the year 2050, more powerful storms, a rise in sea level and warmer atmospheric temperatures will give hurricanes a greater capacity to hold more moisture. Simultaneously, warmer sea surface temperatures give storms the fuel to penetrate further inland to locations previously shielded from consequential damage." The official 2023 hurricane season kicked off today, June 1st.

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