As hurricanes and wildfires grow more common in some areas, home values go down and insurance premiums go up. Claire Brown and Mira Rojanasakul report for the New York Times:
Since 2018, a financial shock in the home insurance market has meant that homes in the ZIP codes most exposed to hurricanes and wildfires would sell for an average of $43,900 less than they would otherwise, the research found. They include coastal towns in Louisiana and low-lying areas in Florida.
The Midwest seems to be hit hard by insurance premiums as well. I did not know hail was such an issue.
In parts of the hail-prone Midwestern states, insurance now eats up more than a fifth of the average homeowner’s total housing payments, which include mortgage costs and property taxes. In Orleans Parish, La., that number is nearly 30 percent.
Visualize This: The FlowingData Guide to Design, Visualization, and Statistics (2nd Edition)
