Global warming is a crisis no one believes in More technically, people voting in the mortgage market with their money on balance do not believe in global warming.
That certainly seems in conflict with what they claim to believe about global warming and rising sea levels.
As of now, interest rates on loans for beachfront properties are no higher than interest rates for loans on other properties, comparing first homes to first homes and vacation homes to vacation homes.
Thus, all of us - i.e., the market - are not concerned that global warming will affect beachfront property values negatively in the next 30 years.
The reason for maximum 30-year loans on homes is that the value of a dollar 30 years from now approaches zero and thus has no value to a lender.
So the market tells us about home values over the next 30 years.
If the market believed in global warming and rising sea levels, there would be no market for loans on oceanfront property at any interest rate.
That certainly seems in conflict with what they claim to believe about global warming and rising sea levels.
As of now, interest rates on loans for beachfront properties are no higher than interest rates for loans on other properties, comparing first homes to first homes and vacation homes to vacation homes.
Thus, all of us - i.e., the market - are not concerned that global warming will affect beachfront property values negatively in the next 30 years.
The reason for maximum 30-year loans on homes is that the value of a dollar 30 years from now approaches zero and thus has no value to a lender.
So the market tells us about home values over the next 30 years.
If the market believed in global warming and rising sea levels, there would be no market for loans on oceanfront property at any interest rate.
https://www.americanthinker.com/blog/2022/07/what_beachfront_property_says_about_global_warming.html
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