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A new report from Home Redfin shows that the number of homes built in disaster areas in the United States is on the rise, with more than half (55%) of homes built in the past two years at risk. mediation.
In contrast, only 14% of buildings built in the first half of the 20th century between 1900 and 1959 are at risk of fire.
The data comes from climate risk statistical analysis by ClimateCheck, a technology company focused on science, real estate, and conservation, and regional records of single-family homes built since 1900.
Almost all homes built in Arizona in the past decade (97%) are at risk of fire, followed by Oklahoma (96%), Arkansas (94%), Wyoming, and Montana (93%).
The report also found that 45 percent of homes built this decade were in drought-prone areas, compared to 37 percent of homes built between 1900 and 1959. As mentioned above, this percentage can increase.
Sun Belt, is a large area of 15 states that includes California, Florida, and Texas. Phoenix Redfin Realtor Heather Mahmoud-Corley said Arizona homes have “exploded” recently as the population grows.
“Builders tend to move to rural, dry areas because that’s where the land is,” he added, adding that in Casa Grande, a city south of Phoenix, builders are selling homes despite warnings that there may not be enough.
Types Of Risks
Based on the number of extremely hot days that can be expected in the future, fire hazards are listed as the most common hazard and affect almost all buildings constructed in the last two years.
Hurricane risk is next in the Northeast, affecting 78 percent of the nation’s oldest buildings, followed by fire, drought, and flood.
Economist Jenny Schutz said the stark results also show America is building and helping where climate change warnings are being ignored.
He told Redfin that buildings are being built farther from the city because the land is already developed and easier to work with.
He explains: “New housing needs to be built further away from the city center because the land is already developed for convenience and it is difficult to build more houses in rural areas,” he explains.
“In the west, the hotspots are in the wilderness, so the further into the wilderness you go, the more buildings are destroyed.”
He warned that Fannie Mae and Freddie Mac could charge higher prices or even refuse to foreclose on low-income homes, which could prevent lenders from getting loans in troubled areas.
Home Values And COVID
Redfin says more than half of Americans now live in rural areas. That’s up from 37 percent in 1970 and 13 percent in 1940, thanks to the COVID-19 pandemic that has encouraged telecommuting and boosted housing prices over the past two years.
Salt Lake City, Utah is an example of what happens when there is not enough space to build a city.
Redfin marketing manager Ryan Aycock reports that developers are moving into the surrounding mountains, which are “vulnerable to heat and drought.”
He said, “Herriman is a hill town south of Salt Lake City that attracts a lot of builders.
Fires weren’t a big deal when Herriman was mostly a wilderness, but now more people are taking the risk.
In 2010, Herriman was hit by a devastating wildfire that destroyed more than 4,000 acres of homes.
The report notes that homes in distressed areas are attractive to buyers because they are cheaper and have “lower property taxes, housing options, or access to nature.”
But he added that some consumers are unaware of the risks. This is partly due to a lack of information, but also because people “are often unaware of the cost when an accident occurs”.
Reference Source: MPA
