Climate change and real estate. Most people would say that they’re related, but not in a substantial way. We all know that homes can flood, catch fire, or be blown away from a tornado, but how many real estate investors are looking at the climate risk data before making a real estate-related decision? Institutional investors have been using climate change data to make educated decisions for decades, so why aren’t we doing the same?
Cal Inman, lecturer at UC Berkeley and principal over at ClimateCheck, saw that real estate developers were regularly looking at climate data to make decisions. As a small landlord himself, he struggled to find this same type of data for his residential properties. As fire and flooding became more prevalent throughout the United States, Cal knew that this data was imperative for homeowners, not just large-scale investment firms.
Now, thanks to ClimateCheck, homeowners, buyers, and sellers can look at the climate change-related risk before they put any money into a property. Cal also shares why and where climate risk is rising, the safer parts of the US to invest in, and how different regions of the country are preparing for more elevated climate-caused catastrophes. If you’re investing on the coasts, in the plains, or anywhere in between, the data could completely change your investing strategy.
Hey, what’s going on, everyone? Welcome to On The Market. I am super excited that you are all joining me here today for my conversation with Cal Inman, who is the creator and principal of ClimateCheck. ClimateCheck is a website that provides really cool and pretty unique data about what risks exist based on your property for climate. So, whether that’s wildfires or floods or extreme winds or hurricane, basically, every property in the country has some level of risk from natural disaster or climate. And depending on where you live, it could be really different.
Obviously, I talk about this a little bit in the episode. In Colorado,…