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When climate meets real estate: A survey of the literature

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  • Justin Contat
  • Carrie Hopkins
  • Luis Mejia
  • Matthew Suandi

Abstract

With near unanimity, climate scientists project natural disasters to increase in frequency, severity, and geographic scope over the next century. We survey academic literature at the intersection of these climate risks and real estate. Our review of physical risks includes price, loan performance, and migratory effects stemming from flooding, wildfires, and sea level rise. We review transition risks, including energy use and decarbonization, as they relate to real estate. Where possible, we explain how these topics may intersect with housing affordability, especially in historically disadvantaged communities. We conclude by highlighting critical areas for future research.

Suggested Citation

  • Justin Contat & Carrie Hopkins & Luis Mejia & Matthew Suandi, 2024. "When climate meets real estate: A survey of the literature," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 52(3), pages 618-659, May.
  • Handle: RePEc:bla:reesec:v:52:y:2024:i:3:p:618-659
    DOI: 10.1111/1540-6229.12489
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    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • R1 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics
    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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