Today's Date: March 28, 2024
Equalpride Partners with TransLash Media for Trans Day of Visibility, Amplifying Voices of Black Trans Femmes in the Arts   •   Fosun Management on 2023 Annual Results: Focusing on Core Industries with Established Advantages   •   Carnegie Learning Named 2024 SIIA CODiE Award Finalist for Best Educational Game and Best AI Implementation in Ed Tech   •   Taro Pharmaceuticals U.S.A., Inc. Expands OTC Portfolio for Children with the Introduction of bébé Bottoms™   •   Coachella Concerned That People Have Sex, Says AHF   •   Torrid Reports Fourth Quarter and Fiscal 2023 Results and Initiates Fiscal 2024 Guidance   •   Make-A-Wish and celebrity wish granters announce goal to recruit 1 million people to become "WishMakers"   •   Midea Group releases its first-ever ESG brand story with an unexpected VIP visit highlighting its commitment to sustainability.   •   National University Receives 2024 Military Friendly® Gold Designation   •   YMCA of the USA Partners With Old Spice To Increase High School Graduation Among Boys And Young Men Of Color Through Mentorship   •   Suffolk Kicks off 2024 “Build With Us @ Suffolk” Program in Boston for Trade Partners, Opening Doors for Minority-,   •   Empire State Realty Trust Receives WELL Health-Safety Leadership Award; Becomes Among the First Commercial Office and Multifamil   •   Sypher Secures Strategic Partnership with FAIA to Fuel Growth   •   Re:wild and Colossal Biosciences team up to leverage revolutionary technology to save critically endangered species on the brink   •   Parkland Corporation Announces the Results of the 2024 Annual General Meeting of Shareholders   •   Visit Visalia Recognizes Autism Awareness Month in April   •   VIRGIN HOTELS CHAMPIONS INCLUSIVE TRAVEL FOR NEURODIVERSE TRAVELERS   •   Jamieson Wellness Publishes Inaugural Sustainability Impact Report   •   Amerex Group Unveils Red Carter Swimwear's Revitalized Collection   •   John Legend to Perform at City Year Los Angeles’ 13th Annual Spring Break Event
Bookmark and Share

Climate Change-Influenced Hurricane Season Could Threaten an Estimated 33 Million Homes According to CoreLogic

IRVINE, Calif. , June 01 /Businesswire/ - To mark the start of the 2023 Atlantic Hurricane Season, CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released its 2023 Hurricane Risk Report, shedding light on the evolving landscape of hurricane risk in the face of climate change. The report analyzes risks for single-family residences (SFRs) and multifamily residences (MFRs) along the U.S. Gulf and Atlantic Coasts.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230601005331/en/

Hurricane Wind National Analysis (Graphic: Business Wire)

Hurricane Wind National Analysis (Graphic: Business Wire)

Tom Larsen, Senior Director for CoreLogic Insurance Solutions, stated, "CoreLogic remains committed to empowering the industry with reliable insights and innovative solutions that help safeguard people, businesses and communities from the escalating impacts of climate change. Insurers and lenders should adapt to these changes by deepening their understanding of property risk, embracing proactive loss prevention measures and collaborating with stakeholders across the industry to ensure long-term resilience."

Report Highlights

National Implications

This year, CoreLogic has identified that more than 32 million single family residences (SFRs) and an additional one million multi-family residences (MFRs) are at moderate or more significant risk of sustaining damage from hurricane-force winds. This damage would have a combined reconstruction cost value (RCV) of $11.6 trillion. Approximately 7.8 million homes, with a combined RCV of $2.6 trillion, have direct or indirect coastal exposure, making them susceptible to storm surge flooding.

Metro Area Implications

CoreLogic’s 2023 Hurricane Risk Report has also identified major U.S. metros at greater risk for hurricane damage. More than 4.3 million SFRs and MFRs in the New York City metro area are at risk of hurricane-force winds. These properties, spanning New York City, Newark and Jersey City, equate to a combined RCV of $2.4 trillion at risk. Other major metro areas with substantial hurricane wind risk are the Houston-Woodlands-Sugar Land and Miami-Ft. Lauderdale-Pompano Beach areas have 2.1 million SFRs and MFRs, each, and a combined RCV of $649.8 and $585.0 billion, respectively.

Hurricane Projections by 2050

CoreLogic analyzed historical data, climate patterns and predictive models in conjunction with its property database and suite of climate change models to forecast the potential impacts of hurricanes on coastal and neighboring regions by mid-century. Research suggests that, by the year 2050, more powerful storms, a rise in sea level and warmer atmospheric temperatures will give hurricanes a greater capacity to hold more moisture. Simultaneously, warmer sea surface temperatures give storms the fuel to penetrate further inland to locations previously shielded from consequential damage. CoreLogic has found that the biggest increase in homes at risk of damage from hurricane-force winds are in the counties furthest from the coast, who had previously only experienced dissipated winds. However, by mid-century, homeowners may need to consider how to mitigate and recover from hurricane wind damage as storms travel further inland, exposing more homes to hurricane force winds. The 2023 Hurricane Risk Report further illustrates what these risks might look like, using the Houston-Galveston area as an example.

For insights into hurricane activity this season, visit HazardHQ.com. Click here for the full hurricane risk report and methodology. To listen to the hurricane risk webinar, click here.

About CoreLogic

CoreLogic®, a leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, buy and protect their homes. For more information, please visit www.corelogic.com.

CORELOGIC, and the CoreLogic logo are trademarks of CoreLogic, Inc. and/or its subsidiaries. All other trademarks are the property of their respective owners.


STORY TAGS: Photo/Multimedia, Product/Service, Professional Services, Environmental Issues, Data Management, Technology, Residential Building & Real Estate, Commercial Building & Real Estate, Environment, Construction & Property, Data Analytics, Natural Disasters, Other Technology, Climate Change, United States, North America, California,

Video

White House Live Stream
LIVE VIDEO EVERY SATURDAY
alsharpton Rev. Al Sharpton
9 to 11 am EST
jjackson Rev. Jesse Jackson
10 to noon CST


Video

LIVE BROADCASTS
Sounds Make the News ®
WAOK-Urban
Atlanta - WAOK-Urban
KPFA-Progressive
Berkley / San Francisco - KPFA-Progressive
WVON-Urban
Chicago - WVON-Urban
KJLH - Urban
Los Angeles - KJLH - Urban
WKDM-Mandarin Chinese
New York - WKDM-Mandarin Chinese
WADO-Spanish
New York - WADO-Spanish
WBAI - Progressive
New York - WBAI - Progressive
WOL-Urban
Washington - WOL-Urban

Listen to United Natiosns News