Huge Number Of Americans Want To Move Due To Climate
According to a new LendingTree study, most people live in areas where they are happy with the climate. However, a significant minority would move due to climate considerations.
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The report’s authors said, “According to the latest LendingTree survey of nearly 2,000 Americans, 6 in 10 live in a region with their preferred climate. Of those who don’t, 20% say they’re eyeing a move to their preferred climate in the next year.” Based on the number of US households, 15 million people would consider relocating.
The LendingTree data is consistent with other studies, although the percentages differ. A Forbes survey found, “The impact of climate change and irregular weather patterns has caused 64% of Americans surveyed to cite climate change or better weather as a reason to move this year.” Since each survey had different questions, the results should not be identical but are directionally alike.
Leaving Florida, Phoenix
The data from these and other studies mean that the real estate landscape in the US will change. Cities that have grown rapidly, particularly Phoenix, Las Vegas, and Miami, will lose population due to drought, temperatures, or hurricanes. Inland cities with weather conditions should gain a larger population.
The migrations will affect home prices. Due to an influx in population, prices in some major metros have risen rapidly, particularly in Miami and Phoenix. As people leave, prices are likely to tumble. This has already started with Florida condominiums near the water. In part, rising flood insurance rates have moved the cost of housing to a level of unaffordability.
America’s climate migration is growing.
