The government is buying up mortgages with climate risk — report
Share Now on:
A natural disaster like a flood or a hurricane can destroy and severely damage property — something we’ve seen happen in coastal regions during every hurricane season. This has, among other things, a big impact on the value of those homes and the mortgages their owners take on. There’s a new paper out today from the National Bureau of Economic Research that says banks have been offloading more of those risky mortgages to the federal government, leaving taxpayers on the hook if homeowners default.
Click the audio player above to hear the full story.
If you’re a member of your local public radio station, we thank you — because your support helps those stations keep programs like Marketplace on the air. But for Marketplace to continue to grow, we need additional investment from those who care most about what we do: superfans like you.
Your donation — as little as $5 — helps us create more content that matters to you and your community, and to reach more people where they are – whether that’s radio, podcasts or online.
When you contribute directly to Marketplace, you become a partner in that mission: someone who understands that when we all get smarter, everybody wins.