How climate change could spark the next home mortgage disaster – Politico (Special Report) 11/30/20
Taxpayers are backing more than a trillion dollars in home mortgages, but the agencies buying them are neglecting to consider climate risks.
“Heavy rains overran the streets this year, last year — almost every year. And the problem is projected to get worse: Some scientists fear the city could be underwater within the lifetimes of some current residents.
“Despite that grim prognosis, the federal government keeps pumping mortgage money into Hialeah, as it does in hundreds of other communities now facing grave dangers from climate change.
“…a result of outdated maps that do not consider future flood scenarios arising from climate change — a problem that, policymakers maintain, is replicated in communities across the country.”
Barbara Barrigan-Parrilla, Executive Director, Restore the Delta:
State, regional, and local government is moving too slowly to deal with the flood threat to the Delta, especially in the South Stockton area, where environmental justice communities are at high risk for a climate change flood event.
While the state fiddles around with a Delta tunnel plan, it is failing to address how the flood threat could negatively impact the economy and mortgage market. A tunnel does nothing to solve this serious problem.
Take Action at MWD Board Meeting to Stop the Tunnel
The MWD Board of Directors will be voting at the 12/8/20 board meeting as to whether they should move forward with Delta tunnel planning costs and which option they will pursue.
To send in a comment expressing your concerns with the cost and lack of reliability with the project, email this address [email protected]. Keep your comment to about 250 words.
To understand the options they are considering, please click the link below.
To keep this type of programming and representation going for 2021, please contribute to our YEAR-END FUNDRAISER TODAY! We are still not set with funding to move forward into 2021. If you have donated, thank you. We are grateful.