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Illuminem summarizes for you the essential news of the day. Read the full piece on CNN or enjoy below:
🗞️ Driving the news: Zillow now displays climate risk data for homes on its platform, offering details on flood, wildfire, wind, heat, and air quality vulnerabilities
• This feature, developed in partnership with First Street, helps buyers assess both current and future risks for properties over 15 to 30 years
🔭 The context: As climate-driven disasters like hurricanes and wildfires become more frequent, over 80% of prospective homebuyers now consider climate risk when purchasing a home
• Zillow’s new tool provides critical data and even suggests tailored insurance options
🌍 Why it matters for the planet: By integrating climate risk data into real estate decisions, Zillow is helping to raise awareness about the long-term environmental impacts of climate change on housing markets, encouraging more sustainable choices
⏭️ What's next: As natural disasters increase, homebuyers and real estate agents will rely more heavily on climate risk assessments, which could influence property values and insurance markets nationwide
💬 One quote: “Climate risks are now a critical factor in home-buying decisions” - Skylar Olsen, Zillow’s chief economist
📈 One stat: In August 2024, 55% of new Zillow listings carried an extreme heat risk, while 13% faced flood risks
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