How does climate change effect real estate?

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Real Estate

Cities from New York to Miami and from New Orleans to Los Angeles are feeling the impact of climate change -- and in some areas, rising water levels, heat waves, droughts and fire risk are putting a serious dent in real estate values.

But what happens in locales where a significant proportion of people don't believe in climate change?

According to a new study from the UBC Sauder School of Business, buyers could end up paying significantly more for a home.

Nearly 65 percent of people in the U.S. own homes, and on average, those homes represent 40 percent of their assets -- as well as a major source of household debt.

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