Marketplace, June 12, 2024, He Assesses Climate Risk On The Housing Market, And He Wants Your Attention
Nearly half of all homes in the United States are at risk of “severe or extreme” damage from events like flooding, high winds and wildfire, Realtor.com estimates. And rising insurance costs — in part because of those risks — are making homeownership less affordable in many parts of the country.
As chief climate officer at Fannie Mae, the government-sponsored mortgage finance company, Tim Judge assesses how climate change may affect housing and Fannie Mae’s huge mortgage portfolio.
Judge joined “Marketplace” host Amy Scott to discuss insurance premiums, climate risk and housing affordability. An edited transcript of their conversation follows.
