‘Climate Change’ Could End Mortgages As We Know Them Or Something

The Cult of Climastrology is always looking for something new to impart doom on

Climate change could end mortgages as we know them

Climate change could punch a hole through the financial system by making 30-year home mortgages — the lifeblood of the American housing market — effectively unobtainable in entire regions across parts of the U.S.

That’s what the future could look like without policy to address climate change, according to the latest research from the Federal Reserve Bank of San Francisco. The bank is considering these and other risks on Friday in an unprecedented conference on the economics of climate change. (snip)

The housing market doesn’t yet factor in the risk of climate change, which is already affecting many areas of the U.S., including flood-prone coastal communities, agricultural regions and parts of the country vulnerable to wildfires. In California, for instance, 50,000 homeowners can’t get property or casualty insurance because of the increased risk to their homes.

Yet for now, no mortgage lender, portfolio manager or buyer of mortgages takes into account climate-induced floods, except to determine if a house sits in a 100-year floodplain at the time the mortgage is issued, said Michael Berman, a former official with the U.S. Department of Housing and Urban Development and former chairman of the Mortgage Bankers Association.

Once lenders and housing investors do start pricing in such risks, “There may be a threat to the availability of the 30-year mortgage in various vulnerable and highly exposed areas,” Berman wrote in a recent San Francisco Fed report. He predicts lenders could “blue-line” entire regions where flood risks are high — a reference to redlining, the practice of refusing mortgages to minorities.

The result: Entire neighborhoods would empty out, leaving cities unable to shore up their crumbling roads and bridges just as severe weather events become more extreme and more frequent. Home values would fall, potentially depleting the budgets of counties and states.

Of course this is coming from the nutty area of San Fransisco, eh? Perhaps they should worry more about earthquakes.

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13 Responses to “‘Climate Change’ Could End Mortgages As We Know Them Or Something”

  1. ST says:

    WOW! President Donald Trump receives hero’s welcome from Alabama Crimson Tide football fans – Video

    https://commoncts.blogspot.com/2019/11/wow-president-donald-trump-receives.html

    • formwiz says:

      DC is a company town and the company is the Deep State, so, of course, Trump got booed, but get him out where there are real Americans and he gets a hero’s welcome every time.

  2. Doom and Gloom says:

    This shows the dark contrast between flyover country and the big urban centers where the echo chamber plays MSM propaganda all day long.

    They listen to each other talk about how much they hate Trump and project it on the rest of the country.

    Its why they flew into a rage after 2016 and I can’t imagine what they will do after 2020 and Trump wins again.

    • Elwood P. Dowd says:

      And here in flyover country (Missouri) there are more Trump supporters than Trump opponents. But don’t make the mistake thinking only the coasts oppose Trump. There are plenty of opponents here in flyover country.

      America’s rural areas are deteriorating and the conservative echo chamber (and Trump) blame Blacks and immigrants, ignoring the policymakers who enrich the urban elites at the expense of working class Americans.

      The right flew into rages in 2008 and 2012 when the nation elected a Black President.

      The Dem’s objective is to make Trump “a one-term President”. What’s wrong with that?

      • formwiz says:

        And here in flyover country (Missouri) there are more Trump supporters than Trump opponents. But don’t make the mistake thinking only the coasts oppose Trump. There are plenty of opponents here in flyover country.

        Too bad for you they’re all in cemeteries.

        America’s rural areas are deteriorating and the conservative echo chamber (and Trump) blame Blacks and immigrants, ignoring the policymakers who enrich the urban elites at the expense of working class Americans.

        That’s why Trump’s support among blacks is growing. Lowest black unemployment ever.

        The right flew into rages in 2008 and 2012 when the nation elected a Black President.

        They did? Must’ve missed it. They didn’t like the guy in ’08 and ’12 because he was an incompetent, but that’s why they didn’t like the guy in ’76, too.

        The Dem’s objective is to make Trump “a one-term President”. What’s wrong with that?

        Because he’s done more good than the last 5 Democrats put together?

        Also because they’re using false evidence (just like global nonsense) and abusing due process?

        • Elwood P. Dowd says:

          4C Man typed: Too bad for you they’re all in cemeteries.

          But according to you they all vote, so it’s a wash. Plus there are lots of cemeteries with votes to harvest!

          Try again, little feller.

          • formwiz says:

            I did? Well, since voter participation is always low in this country, I guess you’re just lying again.

            And putting dead people’s votes in the machines is how you claim you won by 3 million when you lost by 10 states.

            So you need to try again, Minnie Mouse.

      • Nighthawk says:

        Weird. I live in ‘flyover’ country in a very rural community, population of the whole county is less than 32,000. The company I work for is looking at building a new, multi million dollar facility to be able to build bigger and better product. We have four job openings right now that we can’t find people to fill. They are in the process of building a new hotel near the industrial park here because there are a few large tech companies looking to relocate/build here. They just finished a brand new, state of the art hospital here along with a couple new medical parks. Everyone I know who was unemployed or under employed is now working well paying jobs.

        Sorry buddy but this rural area is NOT deteriorating, quite the opposite really, and we thank Trump for making it happen and welcome anyone with open arms.

      • Doom and Gloom says:

        The Dem’s objective is to make Trump “a one-term President”. What’s wrong with that?

        I see you watch the view. I only watched the Trump segment and the Tulsi segment.

        There is nothing wrong with the left MAKING TRUMP a one-term president. Nothing at all.

        IF YOU DO IT LEGALLY. In your case your trying to IMPEACH HIM to make it happen. every president could be impeached. Obama could have been impeached for several things he did.

        That’s, not America. So I do not reject the lefts attempts to make Trump a one-term president. That is politics. We only reject HOW you are attempting to do it.

        • Elwood P. Dowd says:

          We have a Constitutional mechanism to remove Presidents who have committed bribery, treason or high-crimes or misdemeanors. A simple majority vote in the House and 2/3rds majority in Senate can remove a President from office.

          You may recall that the GOP tried to remove President Clinton by this Constitutional mechanism. President Clinton lied in a deposition.

          We understand that Trump supporters object to the impeachment of Trump. Trump has been accused of attempting to bribe Ukraine by withholding appropriated military aid in exchange for assistance against potential 2020 rival, Joseph Biden. If true, this would be a serious violation.

          • Kye says:

            What you don’t understand is that one doesn’t need to be a “Trump supporter” to see the seditious nature of THREE FUKIN YEARS of one charge after another against Trump with no convictions. This is just your TYPICAL Soviet style show trial trying to find THE CRIME to fit the ACCUSED. The butt-hurt socialists, communists and other wingnuts that currently comprise the Old Democrat Party went through Stormy Daniels, Russia/Russia/Russia, emoluments, Trump Jr., Ukraine, The Kurds, Syria and now quid pro quo and who knows what comes next. You have made fools of yourself and are killing your party (thank God).

            You can’t spend three years from even before a guy was sworn in spinning your wheels screaming “IMPEACHMENT” and expect to be taken seriously. All the time and effort and all the screaming and crying and LYING would have been better spent coming up with a VIABLE PLATFORM for the DemComs to run on but when all you got is commie propaganda I guess that’s a non-starter.

            Trump 2020 Get the commies out of the Deep State

          • Doom and Gloom says:

            We understand. The left has nothing but a radical agenda to destroy the fundamental fabric of America.

            “We are five days away from fundamentally transforming the United States of America.” — Barack Obama, October 30, 2008

            “We are going to have to change our conversation; we’re going to have to change our traditions, our history; we’re going to have to move into a different place as a nation.” — Michelle Obama, May 14, 2008

            After he left office he lamented that he was 10-20 years to early. He didnt get the communist state he wanted. Saul Alinsky failed him because of the Tea Party.

            Why did the right resist Obama. IT WAS NOT BECAUSE HE WAS BLACK.

            It was Obamacare, Fast and Furious, Benghazi, Pulling out of Iraq and Afghanistan(You know like YOU are opposed to Trump pulling out of Syria)

            The head of a law enforcement advocacy group lashed out at President Barack Obama in the wake of the Dallas shootings that left five police officers dead, accused the president of carrying out a “war on cops.” By BIANCA PADRÓ OCASIO…AN HISPANIC.

            The Generals on the front row (not unlike the Supreme Court) sat, stony-faced while President Obama garnered a standing “O” from the Dem side. They know what the policy will mean for the military. John McCain says: In his State of the Union address, President Obama asked Congress to repeal the ‘Don’t Ask, Don’t Tell’ policy.

            Supreme Court Ruled That Obama Violated The US Constitution March 23, 2017 June 24, 2017

            Remember when he actually called out the Supreme Court during the State of the Union. Remember the uproar the left has shown trump for calling out a couple judges? Obama calling out the Supreme court was given a pass, trump was called a racist.

            A pilot refused to let President Obama onboard a helicopter after he failed to salute a Marine. Marine One

            President Obama cancels the Space Shuttle program with no clear insight as to what is to go forward.

            This list goes on and on. The RIGHT had fundamental differences with Obama and none of them were because he was HALF BLACK!!!

            The above are just some of the main reasons why the Right wanted to make Obama a one term president and NONE OF THEM called for him to be impeached.

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