Zillow deletes climate risk data from listings after complaints it harms sales
8 days ago
- #real-estate
- #climate-risk
- #insurance
- Zillow removed a climate risk feature from property listings after industry complaints.
- The feature showed risks like wildfire, flood, and extreme heat for 1 million properties.
- Real estate agents and homeowners argued the rankings were arbitrary and hurt sales.
- Zillow now links to First Street's website for climate risk information.
- First Street's founder warns buyers are 'flying blind' without pre-purchase risk data.
- Climate risks are causing insurance premiums to rise, especially in disaster-prone areas.
- Climate-driven disasters caused $182bn in damages in the US last year.
- Home insurance is becoming scarcer and more expensive due to climate risks.
- Assigning climate risks to individual properties remains controversial in the industry.
- Some experts argue proprietary risk models may undermine public confidence in climate science.
- First Street defends its models as peer-reviewed and validated against real-world outcomes.