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Could climate change trigger the next subprime mortgage crisis?

Fast Company · last updated


In 2008, the American dream of homeownership morphed into a nightmare that tanked the global economy.

The culprit? A toxic mix of bad mortgages and casino mentality.

Today, another financial time bomb is ticking—and this one is fueled by rising seas, wildfires, and a lethal dose of denial. 

Climate change is quietly corroding the foundations of the U.S. housing market. From Florida’s hurricane-battered coasts to California’s fire-razed suburbs, a crisis is brewing that could make the subprime mortgage collapse look like a warm-up act. 

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