‘Climate change risk’ may be spurring home buyers to steer clear of coastal Florida markets, study says


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Fewer Americans are scooping up coastal real-estate these days — and the risk of rising sea levels appears to be driving the trend.

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Researchers at the University of Pennsylvania studied the dynamics of coastal real-estate markets in Florida, where as many as one million homes are expected to be at risk of chronic flooding due to rising sea levels by the year 2100. Comparing homes in areas with more exposure to rising sea levels with those that are less at risk, the study found that today’s home buyers have far less interest in the more at-risk properties.

Before 2013, transaction volumes across these two sections of the market moved in tandem. But since then, they have diverged. The number of homes sold in the markets with the highest risk of “chronic inundation,” as some call it, fell between 16% and 20% from 2013 to

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Japan September Wholesale Prices Slump, Heightening Deflation Risk | Investing News

TOKYO (Reuters) – Japanese wholesale prices fell 0.8% in September from the same month a year earlier, data showed on Monday, marking the seventh straight month of year-on-year declines and heightening the risk the country will slide back into deflation.

Squeezed mostly by soft global demand for commodities and Japanese machinery goods, the weakness in wholesale prices highlights the challenge Tokyo faces in cushioning the impact of the coronavirus pandemic on the world’s third-largest economy.

The 0.8% fall in the corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, was bigger than a median market forecast for a 0.5% drop. It followed August’s 0.6% year-on-year decrease.

Wholesale prices also slid 0.1% in September from August, marking the first on-month drop in four months, the data released by the Bank of Japan (BOJ) showed.

“With the global economy still reeling from the

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Little: Manage the risk | Letters

I work as a sports official (freelance vendor) for a variety of local schools and associations, including RUSD and the Metro Classic Conference, in which both St. Catherine’s and Lutheran High compete. While some of my brethren have elected to sit out the fall/winter sports seasons, I have chosen to participate in high-risk volleyball this fall.

The Journal Times editorial of Sept. 30 makes salient points on the COVID-19 dangers of busing and travel issues. Obviously, in these troubled times, eliminating all risk is not possible. So it becomes an issue of managing the risk — lowering it to a level of acceptable. And perhaps as a further indicator of these fractious times, everyone seems to have a different take on acceptable risk. A lot of it is location-based — urban vs. rural. (And too much is political-based, sadly.)

While your editorial pointed out many of the minuses our local

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Are Banks Reserving Enough for Commercial Real Estate Default Risk?

It’s no secret that certain commercial real estate loans have become a lot riskier since the coronavirus pandemic emerged earlier this year. After all, the desire to prevent the spread of the virus has made traveling and staying in hotels, going to shopping malls, working in the office, and even regularly eating in restaurants a lot less attractive. Seeing the apparent risk, banks have been setting aside lots of cash to cover potential losses on loans to industries vulnerable to the pandemic.

While many appear to be thinking about it conservatively, and deferrals have come down significantly in the last few months, there is still lots of uncertainty regarding the credit risks of borrowers. If coronavirus cases rise to a level that pushes states into new stay-at-home orders, or if the pandemic permanently changes consumer behavior, these loan segments could be facing more trouble.

One of the main ways a

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Northeast Ohio counties face foreclosure risk, but others top the list

Remember the international coverage of Cleveland as a hotbed for eviction and foreclosure cases during the housing collapse and Great Recession? Maybe that won’t be the case in this recession.

A report on vulnerability to foreclosures prepared by Attom Data Solutions, a housing data provider based in Irvine, Calif., shows Northeast Ohio counties are trending lower than other parts of the nation so far this time around. The Midwest is faring better than the Northeast U.S., according to Attom. The data services provider said housing costs rising faster in pricier markets put them at more risk for foreclosures than flyover country.

The index takes into account unemployment linked to COVID-19, home equity, percentage of income to buy a home, prices, current foreclosure cases, housing debt and other factors. The lower a county’s ranking on the list, the greater risk the area has for foreclosures. Surprisingly, just three Northeast Ohio counties

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CoreLogic Risk Analysis Shows Hurricane Delta Threatens 293,685 Homes with Storm Surge Damage

—With striking similarities to Hurricane Laura, Hurricane Delta threatens the same coastal towns already struggling to recover—

CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released data analysis showing 293,685 single-family and multifamily homes across Louisiana and the U.S. Gulf Coast with a reconstruction cost value (RCV) of approximately $62.85 billion are at potential risk of storm surge damage from Hurricane Delta based on its projected Category 2 status at landfall. These estimates are based on the October 7, 5 p.m. Eastern Daylight Time (EDT) National Hurricane Center forecast.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201008005338/en/

Hurricane Delta: Number of Homes at Storm Surge Risk and Associated Reconstruction Cost Value (Graphic: Business Wire)

“After battering the Yucatán Peninsula near Cancún, Mexico, Hurricane Delta is headed for the Gulf Coast just weeks after Hurricane Laura brought significant wind and storm

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These Real Estate Sectors are Most at Risk of Obsolescence from Tech

There is a lot of talk about technology taking jobs. Real estate won’t be immune from this trend, but specific segments are more prone to job loss than others.

In a new report Cushman & Wakefield pinpoints gas stations, bank branches, non-experiential retail and garages (those in single-family homes and commercial parking decks) and non-amenitized commodity offices as the categories of real estate that are at higher risk of obsolescence due to technology.

There have been different drivers behind these closures. Since 2009, 6% of branches have closed. In 2020, that number could jump to 20%, according to Intelnet.com. The rise of online banking has caused these changes.

With gas stations, urbanization has been the culprit. Between 2004 and 2014, the number of gas stations in Manhattan fell by one-third. Most of that land was redeveloped into condos or offices, according to The New York Times.

There will also be

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Wildfires Put Nearly 2 Million Homes At Extreme Risk Of Property Losses

Nearly 2 million homes with a reconstruction cost value of more than $638 billion are at an elevated risk of wildfire damage this year, according to a new report by data analytics provider CoreLogic.

This wildfire season is well on its way to setting a record for one of the most destructive years for wildfires in recent memory, and the pandemic is creating additional complications, according to the report, which provides insights into single-family and multifamily residential properties at risk of damage from wildfires in the United States.

The devastating wildfires raging across the Western United States have left homeowners facing the challenge of starting from scratch. With disruptions to the supply chain for raw materials, manufacturing and transportation, the resulting hit to reconstruction efforts could be further challenged.

There is no state

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Areas at Highest Risk of a Foreclosure Crisis

Americans could face as many as 1.4 million foreclosures if homeowners remain unable to make their mortgage payments. That is according to a recent report from Realtor.com.

As was reported earlier this week, the number of FHA loans in forbearance remains higher than the share for portfolio loans and private-label securities (and, based on said report, those also are increasing at a higher rate). Realtor.com points out that FHA loans generally are given to first-time, minority, and lower-income homeowners. Thus, those groups are most in danger of losing their homes to foreclosure. Realtor.com editor Clare Trapasso reported that some 17.4% of the roughly 8 million FHA mortgages were delinquent in August (About 11% of those were more than 90 days delinquent), and that these loans, whose down payments are sometimes as low as 3.5% made up about 15% of all  first-mortgage servicing market loans (37.1 million).

“FHA loans are the

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These cities are at risk of a housing bubble as home prices inflate worldwide

A Canadian flag flies amid the Toronto skyline

Roberto Machado Noa | Getty Images

Despite a global recession brought on by the coronavirus pandemic, home values in major markets around the world continue to rise, with some at risk of overheating.

Of 25 major cities analyzed, more than half are either at risk of a housing bubble or are overvalued, according to UBS’ Global Real Estate Bubble Index 2020. The index looked at typical signs of a bubble, which include a decoupling of prices from local incomes and rents, and imbalances in the real economy, such as excessive lending and construction activity.

Toronto is the only major North American city in the study that was found to be at risk of a housing bubble. Vancouver, British Columbia, Los Angeles, San Francisco, and New York are considered overvalued, but not at risk of a bubble. Boston is at fair value, and

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