Oct 2, 2021 - Economy

4. Homeowners face new risks and costs

Photo illustration of cars and houses submerged in flood.

Photo illustration: Shoshana Gordon/Axios. Photo: Tom Brenner/AFP via Getty Images)

Property owners are now seeing the real, personal cost of climate change, as some homes are in danger of becoming increasingly expensive to insure — forcing property values to plummet and turning interested buyers away.

  • Starting this month, new National Flood Insurance Program policies will no longer include subsidized plans that for decades helped prop up home values in some of the most dangerous flood zones. 
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