timo2
Thinks s/he gets paid by the post
From the article: "An expert on the impact of climate change on financial markets has advice for anyone thinking of buying a home in Florida: don’t.
Spencer Glendon of the Woods Hole Research Center said Friday on the Florida Roundup that financial institutions are going to wreck Florida’s economy if they don’t confront the risk to coastal real estate and slow their lending. He warned that home buyers in the state should no longer be receiving 30-year mortgages.
“What maybe seemed like a long time horizon or something that’s far away actually isn’t far away,” Glendon said. “The longer we wait to start adjusting, the more painful it will be.”
"He compared the threat of sea-level rise in Florida to earthquakes in California."
https://www.wlrn.org/post/investmen...9CBSS_7qydsqWhWOSSd6igosjQw4M9acLCTt31PPwXJ_g
Spencer Glendon of the Woods Hole Research Center said Friday on the Florida Roundup that financial institutions are going to wreck Florida’s economy if they don’t confront the risk to coastal real estate and slow their lending. He warned that home buyers in the state should no longer be receiving 30-year mortgages.
“What maybe seemed like a long time horizon or something that’s far away actually isn’t far away,” Glendon said. “The longer we wait to start adjusting, the more painful it will be.”
"He compared the threat of sea-level rise in Florida to earthquakes in California."
https://www.wlrn.org/post/investmen...9CBSS_7qydsqWhWOSSd6igosjQw4M9acLCTt31PPwXJ_g