Underwater mortgages, insurance hikes among hurricane risks

While the threat of property damage and associated monetary losses resulting from Atlantic hurricanes is well documented, a new study puts numbers on the extent of the risk to homeowners and their communities.

Climate scenarios are on the minds of home buyers, influencing where and what they buy as they consider both costs and standard of living. The choices they make will have long-term effects on communities in storm-prone areas. The risk extends well beyond hard-hit Florida, which has regularly borne the brunt of extreme weather events this century, according to a new risk report from Cotality.

“Buyers are factoring environmental risk factors into their decisions in ways we haven’t seen before,” said Cotality Chief Economist Selma Hepp in the report. 

“They’re pricing in insurance…