They (climate-sensitive real estate ownes) are likely to be the *initial* losers. But as you note in a later post, when you hit the trifecta of climate risk + mortgage risk + sketchy insurance company risk, the effect on banks could be catastrophic, no? Which puts us right back into Big Short territory, or worse, no? Did that not put at risk our entire financial system?
Commenting so I can find this when I’m back at my desk.
They (climate-sensitive real estate ownes) are likely to be the *initial* losers. But as you note in a later post, when you hit the trifecta of climate risk + mortgage risk + sketchy insurance company risk, the effect on banks could be catastrophic, no? Which puts us right back into Big Short territory, or worse, no? Did that not put at risk our entire financial system?
If we need a name for it we could call it the Big Shore. (Hoping that doesn't ruin the impact of my first post…)