In 2021, Sarah and Brandon Jones moved to a floating cabin on Lake Fontana in western North Carolina. Even after renovations, living on the water was cheaper than land.
A new report by the First Street Foundation finds rising insurance costs and homeowners factoring in climate risk into purchase decisions could lower property values.
The home construction market has already been dealing with shortages of skilled labor and building materials, along with expensive construction loans. Those factors will add to the costs of rebuilding communities destroyed by fires.