Question

What has been the impact on housing to date of environmental concerns such as climate change and the potential for an increase in hurricanes and flooding from severe storms?

A)Prices of homes inland have tended to soar as more residents flee the coast.
B)Prices of homes with water views have been largely resilient to environmental factors.
C)Changes in pricing have only effected those homes that have been directly hit.
D)Home prices have deteriorated along the coast.

Answer 1

The impact of climate change and the potential for more severe storms has deteriorated home prices along the coast, while also leading to soaring prices for homes inland. Option A

Step-by-step explanation:

The impact of environmental concerns such as climate change and the potential for an increase in hurricanes and flooding from severe storms on housing has been significant.

Home prices have deteriorated along the coast as coastal areas are more vulnerable to the impacts of climate change and extreme weather events. Flooding and storm damage can reduce the value of coastal properties and make them less desirable to buyers. Additionally, insurance costs for homes in high-risk areas can increase, further affecting affordability.

It is important to note that while coastal homes have been more directly impacted, changes in pricing can also affect inland homes. As more residents flee the coast due to environmental concerns, there can be a surge in demand for homes further inland, leading to soaring prices.

Overall, the combination of climate change and the potential for increased hurricanes and flooding has had a negative impact on housing along the coast, while also causing changes in pricing dynamics for homes inland. Option A