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Housing investment, sea level rise, and climate change beliefs

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  • Barrage, Lint
  • Furst, Jacob

Abstract

We investigate the association of new housing construction with sea level rise exposure and climate change beliefs. We combine U.S. Census construction permits data, sea level rise projections, county-level climate change belief estimates (Howe et al., 2015), and standard housing controls. The results suggest that (i) sea level rise vulnerability is associated with significantly reduced construction in areas with high climate change beliefs, but that (ii) this relationship is significantly attenuated in more skeptical areas, suggesting that climate skepticism may be delaying adaptation.

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  • Barrage, Lint & Furst, Jacob, 2019. "Housing investment, sea level rise, and climate change beliefs," Economics Letters, Elsevier, vol. 177(C), pages 105-108.
    • Handle: RePEc:eee:ecolet:v:177:y:2019:i:c:p:105-108
    DOI: 10.1016/j.econlet.2019.01.023
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    References listed on IDEAS

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    2. Georgii Riabov & Aleh Tsyvinski, 2021. "Policy with stochastic hysteresis," Papers 2104.10225, arXiv.org.
    3. Hee Soo (test record) Kim & Christian Matthes & Toan Phan, 2011. "Extreme Weather and the Macroeconomy," Working Paper 21-14, Federal Reserve Bank of Richmond.
    4. Ivan Petkov, 2022. "Weather Shocks, Population, and Housing Prices: the Role of Expectation Revisions," Economics of Disasters and Climate Change, Springer, vol. 6(3), pages 495-540, November.
    5. Jesse M. Keenan & Jacob T. Bradt, 2020. "Underwaterwriting: from theory to empiricism in regional mortgage markets in the U.S," Climatic Change, Springer, vol. 162(4), pages 2043-2067, October.
    6. Pierre Magontier, 2020. "Does media coverage affect governments preparation for natural disasters?," Diskussionsschriften credresearchpaper29, Universitaet Bern, Departement Volkswirtschaft - CRED.
    7. Elise Grieg, 2021. "Public opinion and special interests in American environmental politics," CER-ETH Economics working paper series 21/349, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
    8. Lin, Yatang & McDermott, Thomas K.J. & Michaels, Guy, 2024. "Cities and the sea level," Journal of Urban Economics, Elsevier, vol. 143(C).
    9. Eszter Baranyai & Adam Banai, 2022. "Feeling the Heat: Mortgage Lending and Central Bank Options," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 21(1), pages 5-31.
    10. Benjamin Dennis, 2022. "Climate Change and Financial Policy: A Literature Review," Finance and Economics Discussion Series 2022-048, Board of Governors of the Federal Reserve System (U.S.).
    11. Olabi, A.G. & Obaideen, Khaled & Elsaid, Khaled & Wilberforce, Tabbi & Sayed, Enas Taha & Maghrabie, Hussein M. & Abdelkareem, Mohammad Ali, 2022. "Assessment of the pre-combustion carbon capture contribution into sustainable development goals SDGs using novel indicators," Renewable and Sustainable Energy Reviews, Elsevier, vol. 153(C).
    12. Adam R. Swietek, 2023. "Automated Design Appraisal: Estimating Real Estate Price Growth and Value at Risk due to Local Development," Papers 2401.08645, arXiv.org.

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