In the next 30 years, 13.4 million more properties in the contiguous US will likely face destructive winds from tropical cyclones, according to a new report. It’s not a risk these properties typically faced in the past, but that’s changing as hurricanes get stronger and weirder with climate change.
The shift could cost property owners billions of dollars in damages. This year, the US could see $18.5 billion in losses from hurricane winds, the report finds. In 30 years, average annual losses rise to roughly $20 billion.
“This next generation of hurricane strength will bring unavoidable financial impacts and devastation that have not yet been priced into the market,” Matthew Eby, CEO of First Street Foundation, the nonprofit research…
