Why the Ultra-Rich Are Moving to Climate Disaster Zones Like Malibu and Palm Beach
Doug McIntyre discusses the trend of the ultra-rich buying properties in climate disaster-prone areas like Malibu and Palm Beach. Despite the known risks of wildfires, storms, and other climate-related events, wealthy individuals continue to purchase expensive homes in these regions, relying on insurance to cover potential losses. This behavior reflects a form of denial that only the affluent can afford, betting on enjoying these locations for a few decades before the climate catches up. The future may reveal whether this risky investment strategy continues as these areas face increasing threats.
Sponsor
Find a Vetted Financial Advisor
- Finding a fiduciary financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to 3 financial advisors that serve your area in 5 minutes.
- Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. Get on the path toward achieving your financial goals!
More from ClimateCrisis 247
- Used EV Prices Plummet, Creating Buying Opportunity for Consumers
- India’s Air Pollution Levels Are 10 Times Higher Than WHO’s Safe Limit
- How Climate Change Is Making Satellites More Dangerous to Earth
- How Climate Whiplash Is Threatening the World’s Largest Cities