Marketing Essay: Impact of Climatic Risks on Real Estate Economy

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Impact of Climatic Risks on Real Estate Economy
Climatic shocks are extreme and destructive weather events such as floods, heatwaves, storms, cold storms, extended precipitations, etc., that significantly affect everyday life. The extreme climate change events are of significant risk to the real estate sector. The occurrence of these weather vagaries significantly impacts both commercial and non-commercial buildings and structures.
In recent times, the United States has experienced a sequence of floods and storms that have affected significant cities in the US. In 2018, Hurricane Florence resulted in massive landfalls that saw enormous destruction of assets and properties. The estimates of figures protracted totals this up to 5,545 assets in an approximated area of 545 million square feet. This included 2900 real estate properties, some under the mortgage-backed investment plan (Starkman &...