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.