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Climate change could deal a severe blow to the mortgage industry, claims Freddie Mac

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Mortgage Professional America | 28 Apr 2016, 06:30 AM Agree 0
According to Freddie Mac, rising sea levels could render some homes uninsurable, causing their value to plummet to zero and leaving lenders and servicers in a lurch
  • Anonymous | | 28 Apr 2016, 11:27 AM Agree 0
    Economists, philosophers, and actuaries are among the most absurd professions that exist today. The only thing that separates them is Birkenstocks versus wingtips. Literally, all they do is sit around and imagine scenarios that are implausible, to make themselves appear useful, while collecting six figure salaries. What a ridiculous premise, especially during an election season, and what a ridiculous article.
  • Jeff | | 28 Apr 2016, 11:40 AM Agree 0
    If I wrote a comment based on "willful ignorance" I would have made it anonymous as well. With ocean levels rising and erratic weather change, this needs to be in the public discussion. It might seem silly today, but not in fifty years.
    In 50 years Anonymous and I will both be dead and coastal properties will be worthless.
  • JCRussell | | 28 Apr 2016, 11:46 AM Agree 0
    In my next career, I want to be an Economist where I can consistently be wrong 50% of the time and still collect a pay check...."The sky is falling, not sure when or where or how much, but it's definitely gonna fall at some point, some where, some how...."

  • Jim | | 28 Apr 2016, 12:05 PM Agree 0

    No matter how much the sea level increases, or decreases, there will ALWAYS be "coastal properties'.
  • Incredulous | | 28 Apr 2016, 12:56 PM Agree 0
    If I didn't know better I would swear this was written by somebody who worked for a government or quasi-government agency. Or perhaps the Bernie Sanders campaign...
  • Brian B. | | 28 Apr 2016, 02:35 PM Agree 0

    This article is a joke - did Al Gore write it? Houses near the water have always had to worry - it is called erosion!
    And as far as "climate change" goes - the climate is and always has changed - it is the nature of the world.
  • Grammer 52 | | 28 Apr 2016, 03:32 PM Agree 0
    Rising seal levels? What do those poor seals have to do with mortgages?
  • Geoff | | 28 Apr 2016, 04:28 PM Agree 1
    Just another vague but "super duper serious we should panic" scenarios like they had in the 70s. All of the gloom and doom then did not come true either.

    To think that the world is going to be on fire or in dire straights in 50 years is the height of ego and narcissism.

  • stan j | | 28 Apr 2016, 10:17 PM Agree 1
    The planet supported greater diversity of life when it was warmer. Stop the panic and adapt!
    We will not lose coastal property at all; in fact; we will have more. It is the fat-cats who are in a panic and want society to bail them out.
    Big Daddy government micro-managing your life is not the answer to the challenge, either.
    Mankind can do nothing at this point because there is increased vulcanism and continental drift which has and will continue to alter weather patterns indefinitely. One volcano emits more carbon than all the major cities combined, so, so much for government carbon regulations.
    We can all revert to living in stone-age conditions and it will not improve matters at all. It's futile. While politicians and government authorities enjoy comfortable lifestyles and high energy consumption they want to restrict your enjoyment of life at the same time while under the guise of their concern for "Green" issues.
  • EddyG | | 29 Apr 2016, 01:36 PM Agree 0
    I sometimes wonder if our intrinsic nature is to constantly be on the lookout for Dooms Day or if it is just a bigger manipulation of the masses. We live in a living planet, changes have occurred and will forever be occurring in this planet. I wonder how those who lived through the Paleozoic and Mesozoic era dealt with te breaking up of the super continent of Pangea. There had o be villages or settlements that disappeared due to the tectonic plate shift. We will with time loose some waterfront land throughout the planet ad will gain some land in ways of volcanic islands somewhere n the planet that is inevitable. As far as the waterfront properties go, there will always be the risk of insuring those against flood or weather related risk but there will always be a demand for them. Anyways, Freddie MAc provides very little financing for these high priced properties.
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