logo
New analysis sounds alarm as dangerous trifecta creeps closer to US homes — and it could cost trillions in damage

New analysis sounds alarm as dangerous trifecta creeps closer to US homes — and it could cost trillions in damage

Yahoo25-03-2025

A new study has revealed a harrowing reality: trillions of dollars in U.S. residential real estate are at serious risk of destruction due to a dangerous trifecta of disasters worsened by increasing global temperatures: wildfires, floods, and extreme wind.
As these extreme weather events intensify, millions of homeowners could face financial and emotional turmoil — on top of the increasing difficulty of selling properties in high-risk zones.
A Zillow study found that homes valued at a combined total of $17 trillion are at a major wind risk, $9.1 trillion are at risk of wildfire damage, and $7 trillion could suffer from severe flooding at the rate of the current disasters worsened by changing temperatures and weather patterns.
The report highlights Los Angeles as the city with the highest total value of homes at major wildfire risk — a staggering $831 billion — while New York City faces the greatest flood threat with $593 billion worth of homes at risk. Miami follows closely behind at $580 billion.
Extreme wind damage poses an even greater financial burden, with properties worth $3 trillion New York City, $1.4 trillion in Miami, and $1 trillion in Boston among some of the most vulnerable.
Zillow's findings also suggest that homes in high-risk areas are less likely to sell at their original listing price — showing that buyers are increasingly factoring these dangers into their decisions.
So what does this mean for the state of the country's residential real estate?
For one, massive financial implications that are concerning on multiple levels. Homeowners may struggle to secure affordable insurance, as insurers typically either pull out of high-risk areas or raise rates dramatically. Meanwhile growing disasters continue to displace communities, leaving behind not just financial losses, but also deep emotional and social scars.
Beyond individual homeowners, the entire U.S. housing market can feel the ripple effects, with home values declining in certain regions while economic inequality grows as lower-income communities bear the brunt of these threats.
Tackling these risks starts with stronger policies and smarter planning. Cities can adopt stricter building codes, invest in flood barriers, and ensure insurance remains accessible for at-risk homeowners. Programs like FEMA's Flood Mitigation Assistance help fund home elevation and relocation to reduce potential losses.
Do you think your house could withstand a hurricane?
No way
Maybe a weak one
I'm not sure
It definitely could
Click your choice to see results and speak your mind.
For homeowners, checking tools like RiskFactor.com can provide insights into a property's fire, flood, and wind exposure. Protective upgrades — such as fire-resistant roofing, storm shutters, and elevated foundations — can help safeguard homes and lower insurance costs.
Community-driven solutions also play a key role. Local efforts like wildfire prevention, flood-resistance landscaping, and emergency preparedness plans can reduce damage and save lives. While the financial and emotional stakes are high, proactive steps today can protect homes, financial security, and entire communities from the growing threat of extreme weather.
Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

A Tampa cemetery is on sale again, reigniting debate over lost graves
A Tampa cemetery is on sale again, reigniting debate over lost graves

Yahoo

timean hour ago

  • Yahoo

A Tampa cemetery is on sale again, reigniting debate over lost graves

Three years after the Tampa City Council unanimously rejected a land-use change for Showmen's Rest, a Tampa Heights cemetery, that would have allowed developers to build out the land, the parcel is up for sale again. This time, the cemetery isn't looking to change its zoning. But the City Council and nearby residents are still torn over a central question: Are there unknown bodies buried beneath the land? Owners of Showmen's Rest have said the portion of land up for sale has not been used for burials. But the Tampa City Council passed a motion Thursday to have city staff contact the property owner and ask if they could use ground-penetrating radar to address concerns about lost graves. 'Should there be graves there, individuals there, then we can look at steps forward,' said council member Guido Maniscalco, who made the motion. Maniscalco also requested a written report from city staff to update the council, which is due June 26. Although he did not mention the name of the property during the motion, Maniscalco confirmed with the Tampa Bay Times after the meeting that the report is about Showmen's Rest. Listed on Zillow for $750,000, the parcel of land at 3541 N. Blvd. is adjacent to the city-owned Woodlawn Cemetery. Showmen's Rest Cemetery hired a firm during the initial controversy more than three years ago that conducted two seismic studies that didn't find any lost graves. The Zillow listing states the seller will do another survey. 'The people that are going up against us keep insisting that there are bodies buried on this vacant parcel of land that we've never developed,' Showmen's Rest President John Perzia said. The cemetery has presented its seismic studies to the City Council, 'but nobody wanted to pay attention to it.' Perzia said the cemetery wants to sell this parcel, which was purchased from the city in 1971, to put it in a trust to keep up maintenance. They don't care who buys it, Perzia said, but they want to ensure their cemetery is preserved. 'I'm almost 70,' he said. 'When I pass away, who's going to take care of this place?' He said the city is welcome to buy the property, but city spokesperson Adam Smith said the administration is not looking to purchase. Perzia said neither he or his real estate broker had heard from the city on Monday afternoon. Maniscalco's motion on Thursday came after a previous council discussion of the cemetery on May 22. At that meeting, council member Bill Carlson also introduced the idea of setting aside city funds for ground-penetrating radar and addressing lost graves. 'What role can the city play? Because not everyone can pay for ground-penetrating radar and not everyone can afford just to give up their land,' Carlson said last month. The Tampa Bay Times reported in 2021 that there were 1,200 missing graves in the city, mostly those of influential Black residents, and the city is attempting to acknowledge and correct its role in erasing Black history. This year, the city erected a historical marker at Zion Cemetery, which was a Black burial ground before it was developed over. The city can't go onto privately owned land without the owner's permission to look for graves. If it does, the surveys are expensive. 'I was happy to hear the City Council is considering creating a fund for ground-penetrating radar,' said Rachael Kangas, director of the west central and central regions of the Florida Public Archaeology Network. 'That's usually the biggest issue we run into.' Kangas reviewed documents sent to her by Aileen Henderson, founder of The Cemetery Society, regarding the cemetery and its history, as well as research files her organization has on Woodlawn Cemetery and Showmen's Rest. 'According to the records I see, that entire block, including this parcel, were part of the original footprint of Woodlawn Cemetery and there is documentation from the newspaper that burials when the cemetery was first established were haphazard,' Kangas wrote in an email to Henderson that was shared with the Times. Additionally, Kangas wrote, the northwest corner of Woodlawn Cemetery was originally set aside for African American graves. She said documentation she read doesn't have details on the size of that area or where exactly the burials were. 'There is no reason to think this parcel of land is not part of a cemetery or that it doesn't contain unmarked burials,' Kangas wrote. Henderson said she also thinks Showmen's Rest could have lost graves and said she was excited to see the City Council take steps toward addressing the citywide issue. 'I don't blame the owner for doing what he has the right to do,' Henderson said. 'The reality is we have the supporting documentation that that is a cemetery.'

Why Small Carriers Should Be Watching Government Freight Right Now
Why Small Carriers Should Be Watching Government Freight Right Now

Yahoo

time3 hours ago

  • Yahoo

Why Small Carriers Should Be Watching Government Freight Right Now

Government freight isn't the secret shortcut social media makes it out to be—but for small fleets that are tired of chasing the spot market and ready to build something more stable, it's a lane worth learning. Over the past year, more owner-operators and small-carriers have started asking how to bid on government loads, especially as contract freight keeps shrinking and spot rates stay unpredictable. The truth is, government contracting—or GovCon, as it's often called—isn't a fast track. It's a structured lane with strict rules, longer payout cycles, and big paperwork. But for those who understand the game, it can also mean steady lanes, longer contracts, and consistent recently broke this all down in a deep-dive session inside the Playbook Masterclass—but here's what every small carrier needs to understand right now, whether you watched it live or not. Let's start with what's real. There's more freight out there than just what you're seeing on DAT and Truckstop. From local school districts needing weekly milk deliveries to FEMA emergency contracts that need box trucks on standby, the government buys more transportation than any private shipper in the here's what most carriers don't realize: a large portion of that freight is set aside specifically for small businesses. If you're a carrier with: Fewer than 500 employees Less than $30 million in annual revenue Proper authority and registration …you qualify to bid on many of these jobs. Some contracts are even reserved exclusively for small carriers or companies with certifications like Woman-Owned, Veteran-Owned, or Minority-Owned. But qualification doesn't mean readiness. Melanie Patterson, founder of Team Integrity Knowledge Center, a firm that assists small business owners with navigating the complexities of getting established as a government contractor said it best; 'Too many small carriers think GovCon is out of reach. The government buys everything—and they're required to buy from small businesses first. If you're set up right, you've already got a shot.' Let's be honest up front—GovCon is not for everybody. There are serious downsides that you need to be ready for: This isn't the world of quick pays and factoring. Expect Net 30, 45, or even 60 on some federal contracts. That means you'll need to float fuel, driver wages, insurance, and maintenance before that first check lands. If you're already tight on cash flow, this can bury set up in (the federal contractor registration system) isn't a simple sign-up form. You'll need your business structure in order, tax info, NAICS codes, and a banking setup ready to go. And even when you're registered, just being in doesn't get you work. You still have to find the bids, respond with a clean package, and compete on pricing and capability. Government customers use systems like WAWF (Wide Area Workflow) or IPP for invoicing. You can't just fire off a QuickBooks invoice. If your admin team—or your cousin managing the books—can't handle this, you're going to have serious delays. Despite all the red tape, government freight can be a game-changer for the right carrier with the right setup. Take this scenario: You're running one or two reefers. You've got a dependable driver. You know your cost per mile and have some admin support. Now picture this: A local USDA contract opens up to deliver temperature-controlled goods 3x per week to three counties. Total value? $180,000 over 10 months. No brokers. No bidding war. Just a clean response, a capability statement, and a pricing sheet. This happens more often than you think. But the carriers that win are the ones who are organized, registered, and pay attention to what's posted. You don't have to go all-in on federal contracts right away. Here are three ways small fleets are entering the GovCon space without overextending: Instead of going after the award yourself, link up with a prime contractor who already has it. They need reliable carriers to execute the work—and they handle the invoicing and compliance. You focus on delivering freight and building a relationship. Local governments—school boards, counties, state agencies—also need transport. These jobs often pay faster and come with less complexity. Some can be found on your state's procurement site, others are listed right on under 'State/Local'. Every week, the government posts small, low-dollar, short-term contracts for basic freight. These jobs are a great way to get your feet wet, understand the paperwork, and start building past performance—without locking into something huge. We've seen too many businesses win a government contract and lose money because they didn't calculate real costs. Here's a basic formula you need to know before quoting anything: Start with your cost per mile. Add admin time and billing complexity. Include buffers for fuel and unexpected accessorials. Factor in time delay on payments. If you quote like you're on a load board, you're going to sink. GovCon freight pays well—but only if you submit a complete, realistic rate that covers your full operation. As Melanie shared in Masterclass: 'You don't win contracts by bidding the lowest. You win them by bidding clean, fair, and clearly.' If you want to explore this lane, there are four things you need to get in order first: – Get your Unique Entity ID (UEI), DUNS no longer used. Free to register. – A 1-page resume for your business. Lists your equipment, service area, and past performance. – Build a template that calculates your breakeven per load and gives you a buffer. – Keep your COI, DOT/MC info, safety rating, driver roster, and endorsements in one place. Optional (but powerful): Certifications like WOSB, MBE, DBE, or 8(a) can put you in front of set-aside contracts you won't see otherwise. The freight market is full of noise right now. Everyone's chasing the next hot load or hoping rates bounce back. But the carriers that will survive and scale in 2025 are the ones building systems and securing freight they can count on. Government work isn't for everyone—but for those who want out of the chaos and into something consistent, this is a lane worth learning. And no—you don't need a $2 million fleet or a full compliance department. You just need: A clean setup A smart plan A willingness to execute This isn't a shortcut. It's a shift in strategy. But for those ready to shift, there's real opportunity here. If you want more help with the setup, the bidding, or understanding how to structure your backend to support this freight—our Masterclass covered all of that. You can catch the replay in the portal. But even if you never watch it, now you know what's possible. And for a small carrier, that knowledge could be your edge. The post Why Small Carriers Should Be Watching Government Freight Right Now appeared first on FreightWaves. Connectez-vous pour accéder à votre portefeuille

HELOC rates today, June 9, 2025: Interest rates on home equity lines of credit are unchanged
HELOC rates today, June 9, 2025: Interest rates on home equity lines of credit are unchanged

Yahoo

time11 hours ago

  • Yahoo

HELOC rates today, June 9, 2025: Interest rates on home equity lines of credit are unchanged

HELOC interest rates paused Monday after moving substantially higher yesterday. According to a recent survey by MeridianLink, more than one-quarter (28%) of Americans are considering a home equity line of credit or home equity loan to tap their home's value. Of those likely to borrow against their equity, 45% said home renovations were at the top of their list, followed by investing in new properties (16%) and debt consolidation (16%). That shows the versatility of HELOCs and HELs. Now, let's check the latest HELOC rates. Dig deeper: HELOC vs. home equity loan: Tapping your equity without refinancing According to Zillow, rates on 10-year HELOCs are unchanged today at 6.85% following yesterday's sharp increase. The same rate is also available on 15- and 20-year HELOCS. However, VA-backed HELOCs are up six basis points at 6.48%. Homeowners have a staggering amount of value tied up in their houses — more than $34 trillion at the end of 2024, according to the Federal Reserve. That's the third-largest amount of home equity on record. With mortgage rates lingering in the high 6% range, homeowners are not likely to let go of their primary mortgage anytime soon, so selling the house may not be an option. Why let go of your 5%, 4% — or even 3% mortgage? Accessing some of the value locked into your house with a use-it-as-you-need-it HELOC can be an excellent alternative. HELOC interest rates are different from primary mortgage rates. Second mortgage rates are based on an index rate plus a margin. That index is often the prime rate, which today is 7.50%. If a lender added 1% as a margin, the HELOC would have a rate of 8.50%. However, you will find reported HELOC rates are much lower than that. That's because lenders have flexibility with pricing on a second mortgage product, such as a HELOC or home equity loan. Your rate will depend on your credit score, the amount of debt you carry, and the amount of your credit line compared to the value of your home. And average national HELOC rates can include "introductory" rates that may only last for six months or one year. After that, your interest rate will become adjustable, likely beginning at a substantially higher rate. You don't have to give up your low-rate mortgage to access the equity in your home. Keep your primary mortgage and consider a second mortgage, such as a home equity line of credit. The best HELOC lenders offer low fees, a fixed-rate option, and generous credit lines. A HELOC allows you to easily use your home equity in any way and in any amount you choose, up to your credit line limit. Pull some out; pay it back. Repeat. Meanwhile, you're paying down your low-interest-rate primary mortgage like the wealth-building machine you are. Today, FourLeaf Credit Union is offering a HELOC rate of 6.49% for 12 months on lines up to $500,000. That's an introductory rate that will convert to a variable rate later. When shopping lenders, be aware of both rates. And as always, compare fees, repayment terms, and the minimum draw amount. The draw is the amount of money a lender requires you to initially take from your equity. The power of a HELOC is tapping only what you need and leaving some of your line of credit available for future needs. You don't pay interest on what you don't borrow. Rates vary so much from one lender to the next that it's hard to pin down a magic number. You may see rates from nearly 7% to as much as 18%. It really depends on your creditworthiness and how diligent a shopper you are. For homeowners with low primary mortgage rates and a chunk of equity in their house, it's probably one of the best times to get a HELOC. You don't give up that great mortgage rate, and you can use the cash drawn from your equity for things like home improvements, repairs, and upgrades. Of course, you can use a HELOC for fun things too, like a vacation — if you have the discipline to pay it off promptly. A vacation is likely not worth taking on long-term debt. If you take out the full $50,000 from a line of credit on a $400,000 home, your payment may be around $395 per month with a variable interest rate beginning at 8.75%. That's for a HELOC with a 10-year draw period and a 20-year repayment period. That sounds good, but remember, it winds up being a 30-year loan. HELOCs are best if you borrow and pay back the balance in a much shorter period of time.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store