Why Purchasing a Home in a Hot Climate Is a Risky Financial Decision
“Why is purchasing a home in a hot climate a risky financial decision?”
A home’s price is based on a number of externalities, one of them being climate. If the climate is too extreme, people are driven away and the prices go down. With the advent of climate change, hot areas are going to become more hot, so much so that many areas will probably be extremely uncomfortable to live in. Prices will reflect this, and home values may go down with each passing year in those zones. This is Why Purchasing a Home in a Hot Climate Is a Risky Financial Decision.