Bringing climate risk home, one property at a time

Read the full story at The Hill.

As part of a broader attempt to visualize future climate risk, insurance companies, federal mortgage managers and consumer financial authorities are partnering with First Street Foundation to bolster the U.S. economy against the rising risk of extreme weather.

Climate exposure represents a serious threat to the U.S. housing market, which may be overvalued by more than $200 billion dollars, according to First Street data published in Nature.

On Wednesday, the Federal Home Loan Mortgage Corporation — better known as Freddie Mac — was the latest to announce that it would join dozens of other federal and private companies in using First Street data to evaluate climate risk to the properties it helps finance.

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