· 2 min read
illuminem summarizes for you the essential news of the day. Read the full piece on The Washington Post or enjoy below:
🗞️ Driving the news: North Carolina has joined a growing list of states, including South Carolina, New York, and New Jersey, in implementing more stringent requirements for disclosing flood risks and history to potential homebuyers
• This change aims to provide greater transparency about potential flood dangers and previous flood damage
🔭 The context: These changes come as the United States faces increasing flood risks due to climate change, with sea levels rising and storms becoming more powerful
• Historically, many states have had limited or no requirements for flood risk disclosure, leaving buyers unaware of potential risks
🌍 Why it matters for the planet: The move towards more comprehensive flood risk disclosure is part of a broader recognition of the escalating threats posed by climate change
• By informing potential buyers about flood histories and risks, states aim to better prepare communities and reduce the impact of future climate-related disasters
⏭️ What's next: While several states have made progress in flood risk disclosure, many still lack such requirements
• The Federal Emergency Management Agency (FEMA) has proposed federal legislation to mandate minimum flood risk reporting requirements nationwide, but this has yet to become a reality
💬 One quote: “People deserve to know whether the house they are purchasing has flooded or could flood” (Brooks Rainey Pearson, Southern Environmental Law Center)
📈 One stat: In 2021, about 6.6% of home sales in New Jersey, New York, and North Carolina were properties that had previously experienced flooding, highlighting the importance of disclosure in real estate transaction
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