December 8, 2008
The California Real Estate Journal quoted Associate Professor Gary Painter about a new report warning of a $2.5 trillion risk to real estate posed by global warming. Rising losses from damage and destruction of buildings and land presumably will lead to higher insurance premiums, the story stated. "What's clearly going to happen is, as various places in California experience greater risk over time, you'd expect that to be reflected in higher prices," Painter said.
The California Real Estate Journal quoted Associate Professor Gary Painter about a new report warning of a $2.5 trillion risk to real estate posed by global warming. Rising losses from damage and destruction of buildings and land presumably will lead to higher insurance premiums, the story stated. "What's clearly going to happen is, as various places in California experience greater risk over time, you'd expect that to be reflected in higher prices," Painter said.