Climate Risk and Insurance Costs Slow Miami Housing Market Growth

Douglas McIntyre, Editor-in-Chief at Climate Crisis 24/7, explains why Miami’s housing market has stagnated despite a national rise in prices. While most major markets saw growth, Miami’s real estate is stalled by hurricane risk and skyrocketing insurance rates, which are now so high they prevent buyers from qualifying for mortgages. McIntyre emphasizes that climate threats are beginning to structurally affect housing market stability.