A new United Nations report paints a bleak picture: The world is on a path toward climate destruction, sea levels will continue to rise, ice caps will melt, and temperatures will reach insufferable levels. The impact on real estate could be enormous.
The report, published Monday by the U.N.’s Intergovernmental Panel on Climate Change, says there are ways to mitigate the worst effects of climate change. But at the least, human activity will cause temperatures to rise about 1.5 degrees Celsius within the next 20 years.
The implications for the real estate industry are apparent: Rising sea levels could cause flooding and threaten coastal home values, while insurers could back out of underwriting properties in areas vulnerable to extreme weather.
“Every IPCC report is a call to action,” said John Mandyck , the…