SEATTLE, Aug. 13, 2019 /PRNewswire/ -- As we enter
the start of hurricane and fire season, a new survey by
Zillow® shows half (50%) of residents of major U.S.
metro areas believe climate change will affect their homes or
communities within their lifetime.
According to the latest Zillow Housing Aspirations Report, young
adults and people who live in coastal metros are the most likely to
anticipate their lives will be impacted by climate change. Nearly
two-thirds (62%) of people ages 18 to 34 say their homes or
communities will be affected either "somewhat" or "a great deal" in
their lifetimes, compared with 51% of people ages 35 to 54, and
only 39% of those 55 and older.
This comes on the heels of an analysis published last month by
Zillow and Climate Central that found that more than 800,000
existing homes worth $451 billion
will be at risk in a 10-year flood by 2050. Another recent Zillow
analysis shows there are nearly a half million homes in
California at risk from
wildfires.
Residents of all ages in Miami
(61%), San Jose (59%) and
Los Angeles (57%) were most likely
to anticipate climate change impact, while those in St. Louis (40%), Detroit (43%) and Philadelphia (44%) were least likely.
There also were differences along political lines. Nearly
two-thirds (63%) of Democrats said they expected to be impacted
somewhat or a great deal by climate change within their lifetime,
while 43% of Republicans said they didn't expect any impact at all.
Nearly a third (32%) of Republicans said they expected impact.
While there was disagreement on the effects of climate change,
there was consensus around possible solutions across all groups. Of
those surveyed, 71% would support new laws to prevent developers
from building in high-risk areas that are prone to natural
disasters. Additionally, 62% support making structural improvements
to homes to mitigate damage, while 59% would support the adoption
of new policies that require homeowners in high-risk areas to buy
disaster insurance.
When it comes to taxes, only about a quarter (27%) support the
idea of increasing taxes for relocation, while 42% would be willing
to pay higher taxes to fund defensive infrastructure.
"This survey confirms that millions of Americans are sensitive
to the risks associated with climate change and believe they will
face them in their lifetimes," said Skylar
Olsen, director of economic research at Zillow. "Young
adults are much more likely to recognize the reality of climate
change-related risks to their homes and communities. Every month
new evidence is brought to light about the risks ranging from
rising temperatures to more frequent floods to wildfires, and
people are hearing the message. Even across age groups and
political lines, there is at least consensus that when you are in a
hole the first step is to stop digging, in this case by not
continuing to build new homes in high-risk areas."
Zillow
Zillow® is transforming how people
buy, sell, rent and finance homes by creating seamless real estate
transactions for today's on-demand consumer. Zillow is the leading
real estate and rental marketplace and a trusted source for data,
inspiration and knowledge among both consumers and real estate
professionals.
Zillow's proprietary data, technology and industry partnerships
put Zillow at nearly every major point of the home shopping
experience, helping consumers search for and get into their new
home faster. Zillow now offers a fully integrated home shopping
experience that includes access to for sale and rental listings,
Zillow Offers®, which provides a new, hassle-free way to
buy and sell eligible homes directly through Zillow; and Zillow
Home Loans, Zillow's affiliated lender that provides an easy way to
receive mortgage pre-approvals and financing. Zillow Premier Agent
instantly connects buyers and sellers with its network of real
estate professionals to help guide them through the home shopping
process. For renters, Zillow's innovations are streamlining the way
people search, tour, apply and pay rent for leased
properties.
In addition to Zillow.com, Zillow operates the most popular
suite of mobile real estate apps, with more than two dozen apps
across all major platforms. Launched in 2006, Zillow is owned and
operated by Zillow Group, Inc. (NASDAQ:Z and ZG) and headquartered
in Seattle.
Zillow and Zillow Offers are registered trademarks of Zillow,
Inc.
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SOURCE Zillow