The government is buying up mortgages with climate risk — report
The government is buying up mortgages with climate risk — report
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.
Stories You Might Like
As a nonprofit news organization, our future depends on listeners like you who believe in the power of public service journalism.
Your investment in Marketplace helps us remain paywall-free and ensures everyone has access to trustworthy, unbiased news and information, regardless of their ability to pay.
Donate today — in any amount — to become a Marketplace Investor. Now more than ever, your commitment makes a difference.
