Former Meta Executive Accuses Company of Compromising U.S. Security

A recent study by research firm First Street indicates that climate change will threaten to erase approximately $1.47 trillion from U.S. property values by 2055. The findings highlight that specific regions, particularly in California and New Jersey, are likely to bear the heaviest financial burdens due to factors such as rising insurance premiums and population declines.
According to First Street's projections, nearly 40% of the anticipated property value losses will occur in "climate abandonment" communities. These areas are at heightened risk from wildfires and flooding, notably California's Central Valley and coastal regions of New Jersey. The study identifies around 21,750 neighborhoods, or 26% of U.S. census tracts, as likely to experience substantial declines.
Extreme weather events, exacerbated by climate change, are already imposing significant costs, with recent hurricanes causing billions in losses. Amanda Devecka-Rinear, a disaster recovery advocate, emphasized that many have been forced to abandon homes due to prohibitively high insurance costs tied to climate risks.