The climate crisis will present more of an existential crisis to the traditional U.S. mortgage market than any previous financial crisis, according to some of the experts cited in the article.

"Up and down the coastline, rising seas and climate change are transforming a fixture of American homeownership that dates back generations: the classic 30-year mortgage."
An article by Christopher Flavelle for The New York Times documents that transformation, opening with the words quoted above. As for what that transformation looks like, Flavelle writes:
Home buyers are increasingly using mortgages that make it easier for them to stop making their monthly payments and walk away from the loan if the home floods or becomes unsellable or unlivable. More banks are getting buyers in coastal areas to make bigger down payments — often as much as 40 percent of the purchase price, up from the traditional 20 percent — a sign that lenders have awakened to climate dangers and want to put less of their own money at risk.
And in one of the clearest signs that banks are worried about global warming, they are increasingly getting these mortgages off their own books by selling them to government-backed buyers like Fannie Mae, where taxpayers would be on the hook financially if any of the loans fail.
As noted in the article, the 30-year mortgage is a U.S. social institution dating back to the Great Depression, but as the world changes, so too does the risk of long-term financial commitments. According to the article, the decline of mortgages might not only put taxpayer money at risk, it might also put homeownership out of reach of more taxpayers.
FULL STORY: Rising Seas Threaten an American Institution: The 30-Year Mortgage

The Right to Mobility
As we consider how to decarbonize transportation, preserving mobility, especially for lower- and middle-income people, must be a priority.

Early Sharrow Booster: ‘I Was Wrong’
The lane marking was meant to raise awareness and instill shared respect among drivers and cyclists. But their inefficiency has led supporters to denounce sharrows, pushing instead for more robust bike infrastructure that truly protects riders.

Push and Pull: The Link Between Walkability and Affordability
The increased demand for walkable urban spaces could make them more and more exclusionary if cities don’t pursue policies to limit displacement and boost affordability.

U.S. Transit Agencies Face a Financial Crisis
Transit providers around the country are scrambling to find new sources of revenue to replace lagging ridership and reorienting their systems to a future less dependent on daily commuters.

California Rejects Six-State Colorado River Plan, Proposes Its Own
State officials claim a proposal agreed upon by the other six states using Colorado River water disproportionately impacts California farmers.

Washington Focuses Road Safety Efforts on Individuals, Neglecting Design
Legislative efforts to reduce traffic deaths could move the needle toward Vision Zero, but state leaders failed to commit infrastructure funds to making structural improvements.
Texas A&M AgriLife Extension
York County Government
York County, Human Resources
HUD's Office of Policy Development and Research
HUD's Office of Policy Development and Research
Harvard GSD Executive Education
City of Culver City
Sonoma County Transportation Authority
City of Piedmont, CA
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