Insight
California's January 2025 fires damaged or destroyed over 16,000 structures with estimated losses exceeding $60 billion.
Why hazard insurance is becoming a housing market constraint
Summary
Hazard insurance is becoming a major constraint on the U.S. housing market, impacting home sales, affordability, and supply. Rising disaster frequency and severity are straining the insurance system, leading to higher premiums and unavailability of coverage, threatening economic mobility.
Key takeaway