Liberty Street Economics. September 25, 2024. Flood Risk Outside Flood Zones — A Look at Mortgage Lending in Risky Areas Kristian Blickle, Evan Perry, and João A.C. Santos. In support of the National Flood Insurance Program (NFIP), the Federal Emergency Management Agency (FEMA) creates flood maps that indicate areas with high flood risk, where mortgage… Continue Reading
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Category Archives: Housing
Zillow will now show climate risks for property listings in the US
“Zillow® is introducing climate risk data, provided by First Street, the standard for climate risk financial modeling, on for-sale property listings across the U.S. Home shoppers will gain insights into five key risks—flood, wildfire, wind, heat and air quality—directly from listing pages, complete with risk scores, interactive maps and insurance requirements. With more than 80%… Continue Reading
Mortgage payments fall lower than rent in 22 of the 50 largest US metros
PRNewswire via Zillow Newroom: “The monthly cost of home ownership may be more attainable than people think. But, it depends on where they live. According to a new Zillow Home Loans analysis, a monthly mortgage payment is actually less expensive than rent in 22 of the 50 largest U.S. metros. Recent dips in mortgage rates,… Continue Reading
Flooded Again: Visualizing Repeated Flooding Across the U.S.
NRDC: “For communities across the country, flooding is an all-too-frequent experience—and, often, one with devastating consequences. Over 250,000 properties in the United States have had multiple claims under the National Flood Insurance Program (NFIP). These “repetitive loss properties” are found in every U.S. state as well as Puerto Rico, the U.S. Virgin Islands, Guam, and… Continue Reading
FHFA Releases Mortgage Loan and Natural Disaster Dashboard
“The Federal Housing Finance Agency (FHFA) released an online risk analysis tool [and a FAQ] that provides geographic estimates for physical risks from various types of natural disasters as well as nationwide data on housing and the mortgage market. The tool — known as the Mortgage Loan and Natural Disaster Dashboard — is intended to give… Continue Reading
Update to U.S. precipitation frequency standards now accounts for climate trends
“A key scientific NOAA resource on extreme precipitation that is widely used by floodplain managers, city planners, civil engineers, developers and communities across the nation will soon include climate trend data. NOAA’s Precipitation Frequency Atlas of the United States (Atlas) provides the statistical likelihood of an extreme precipitation event at a particular location in any… Continue Reading
My journey into the surreal, infuriating future of homeowners insurance
Business Insider: “I take privacy and surveillance extremely seriously — so seriously that I started one of the leading think tanks on the topic, the Surveillance Technology Oversight Project. But while I study surveillance threats around the country for a living, I had no idea that my own insurance company was using my premium dollars… Continue Reading
Climate Deniers of the 118th Congress
“The Center for American Progress has periodically analyzed statements by sitting members of Congress to determine whether they deny the existence of human-caused climate change. This analysis of the 118th U.S. Congress found that 123 elected officials are climate deniers—23 percent of 535 total members. These 100 representatives and 23 senators wield significant influence on… Continue Reading
AI in Finance and Banking, July 31, 2024
Via LLRX – AI in Finance and Banking, July 31, 2024 – This semi-monthly column by Sabrina I. Pacifici highlights news, government documents, NGO/IGO papers, industry white papers, academic papers and speeches on the subject of AI’s fast paced impact on the banking and finance sectors. The chronological links provided are to the primary sources, and… Continue Reading
Here’s how extreme climate is driving inflation
“TAMPA, Fla. (WFLA) — In today’s Climate Classroom, we will be speaking to William S. Becker, a writer for The Hill, a Nexstar-owned property on climate inflation, better known by its new name “climateflation.” No doubt it’s a new term to most, but it’s very real and it’s already hitting us in the wallet— think… Continue Reading
Commercial Zones
Data is Plural: “Byeonghwa Jeong et al. have constructed a dataset estimating the geographic boundaries of 23,000+ commercial zones in 69 metro areas in the US and Canada. To build it, they used data on retail and office locations from OpenStreetMap, and on job density from the US Census Bureau’s Longitudinal Employer-Household Dynamics program (DIP… Continue Reading
How a little-known tool is sweeping the real estate industry by giving instant access to vast amounts of homebuyer data
The Record: “…Forewarn is primarily marketed to and used by the real estate industry, and it has been penetrating that market at a rapid clip. Although some real estate agents say the financial information it returns saves time when finding clients most likely to have the budget for the houses they’re looking at, most agents… Continue Reading
