Posted on Jun 21, 2022
You've likely been affected by climate change. Your long-term finances might be, too
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https://www.npr.org/2022/06/21/ [login to see] /climate-change-costs-extreme-weather
A great majority of Americans have been affected by extreme weather in recent years, and many suffer long-term financial problems as a result, according to a new nationwide survey conducted by NPR, the Robert Wood Johnson Foundation and the Harvard T.H. Chan School of Public Health.
More than three-quarters of adults in the United States say they have experienced extreme weather in the last five years, including hurricanes, wildfires, floods and heat waves, the survey found. And most people who suffer major weather damage or financial problems do not receive money from the federal government.
People who experience extreme weather are also more likely to consider climate change a crisis or major problem, according to the survey, titled "The Impact of Extreme Weather on Views About Climate Policy in the United States."
The results underscore how ubiquitous and dangerous climate change is for Americans, as the hottest part of the year gets underway, and people across the country gird themselves for another year of severe hurricanes, floods, fires and heat waves.
A great majority of Americans have been affected by extreme weather in recent years, and many suffer long-term financial problems as a result, according to a new nationwide survey conducted by NPR, the Robert Wood Johnson Foundation and the Harvard T.H. Chan School of Public Health.
More than three-quarters of adults in the United States say they have experienced extreme weather in the last five years, including hurricanes, wildfires, floods and heat waves, the survey found. And most people who suffer major weather damage or financial problems do not receive money from the federal government.
People who experience extreme weather are also more likely to consider climate change a crisis or major problem, according to the survey, titled "The Impact of Extreme Weather on Views About Climate Policy in the United States."
The results underscore how ubiquitous and dangerous climate change is for Americans, as the hottest part of the year gets underway, and people across the country gird themselves for another year of severe hurricanes, floods, fires and heat waves.
You've likely been affected by climate change. Your long-term finances might be, too
Posted from npr.orgPosted in these groups: 
Climate Change
Finance
Climate Change Finance
Posted 2 y ago
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PO1 William "Chip" Nagel
..."Extreme weather is worst for people who are already marginalized
Around the world, climate change is most dangerous for people who are already marginalized. The new survey confirms that pattern and offers a snapshot of who is living on the front lines of global warming in the U.S.
Native Americans who experience extreme weather are much more likely to have long-lasting financial problems as a result, compared to other racial and ethnic groups, the survey found. Almost half of Native Americans who were affected by extreme weather in the last five years said their household faced serious financial problems as a result — more than four times the rate of white people.
Black people who experienced extreme weather experienced financial problems at three times the rate of white people. Respondents who identified as Latino faced financial problems after weather disasters at more than twice the rate of white people.
And across all racial and ethnic groups, households with income below $50,000 per year suffered weather-related financial problems at more than four times the rate of households who earn more than that amount.
Those results are backed up by research that finds, after a disaster, mortgage delinquency and debt grow and credit scores fall most in poorer neighborhoods and in communities of color, compared to neighborhoods where most people are wealthier or are white.
"Disasters can have the effect of widening existing inequalities," says Caroline Ratcliffe, one of the authors of a 2020 paper that looked at the financial effects over the four years after a weather disaster.
She says a storm, wildfire or flood doesn't need to be record-breaking to cause long-term financial problems, in part because those who experience medium-size disasters don't qualify for emergency federal relief money. "You can think of these medium-sized disasters a bit punching above their weight," she says.
That is backed up by the new survey, which finds most people who either suffered major damage to their home or who had serious financial problems from extreme weather did not receive money from the federal government."
..."Extreme weather is worst for people who are already marginalized
Around the world, climate change is most dangerous for people who are already marginalized. The new survey confirms that pattern and offers a snapshot of who is living on the front lines of global warming in the U.S.
Native Americans who experience extreme weather are much more likely to have long-lasting financial problems as a result, compared to other racial and ethnic groups, the survey found. Almost half of Native Americans who were affected by extreme weather in the last five years said their household faced serious financial problems as a result — more than four times the rate of white people.
Black people who experienced extreme weather experienced financial problems at three times the rate of white people. Respondents who identified as Latino faced financial problems after weather disasters at more than twice the rate of white people.
And across all racial and ethnic groups, households with income below $50,000 per year suffered weather-related financial problems at more than four times the rate of households who earn more than that amount.
Those results are backed up by research that finds, after a disaster, mortgage delinquency and debt grow and credit scores fall most in poorer neighborhoods and in communities of color, compared to neighborhoods where most people are wealthier or are white.
"Disasters can have the effect of widening existing inequalities," says Caroline Ratcliffe, one of the authors of a 2020 paper that looked at the financial effects over the four years after a weather disaster.
She says a storm, wildfire or flood doesn't need to be record-breaking to cause long-term financial problems, in part because those who experience medium-size disasters don't qualify for emergency federal relief money. "You can think of these medium-sized disasters a bit punching above their weight," she says.
That is backed up by the new survey, which finds most people who either suffered major damage to their home or who had serious financial problems from extreme weather did not receive money from the federal government."
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I agree. The most extreme weather I can remember was hurricane Agnes back in 73 of so. It took over 10 years to recover financially from it. Of course back than they called it global cooling. The climate is always changing, it never stays the same.
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