cross-posted from: https://lemmy.world/post/13061057

Just as a addendum to this, there's a book "What Lies Beneath" What lies Beneath with a super interesting foreword by Hans Joachim Schellnhuber about the very real dangers of relying on statistical models and doing nothing.

You don't have to read the entire book but I'd encourage everyone interested to read the foreword.

Desjardins Group announced as of Feb. 1 it would no longer offer new mortgages for properties in “0-20 year” flood zones — where there is a five per cent chance of flooding in any given year — because of what it called the rising effect of climate change.

There are some exceptions: buyers can get financing for up to 65 per cent a home’s selling price if the previous owner had a Desjardins mortgage and the property has protective measures to prevent flooding. But the company’s decision has left mayors of low-lying towns worried that homeowners will be left with properties that no one will buy or that are massively devalued.

Editor’s Note: Bill McGuire is professor emeritus of geophysical & climate hazards at University College London and author of “Hothouse Earth: An Inhabitant’s Guide.”