Boomers Are Buying Homes at Risk of Disaster [Video]

What’s New

Older Americans are more likely to buy homes in disaster-prone areas of the country than younger generations, according to a recent report by Redfin. That’s true across all income levels, the real estate brokerage found.

Nearly 37 percent of all home purchases in areas at high risk of extreme heat over the last year were made by Americans aged 65 and above—the same age cohort that is more vulnerable to rising temperatures. By comparison, 32.3 percent were made by people under 35, the real estate brokerage reported.

Similarly, 13.3 percent of home purchases in counties exposed to flood risk were made by people aged 65 and above, compared with 9.8 percent made by people under 35. A total of 3.7 percent of purchases of homes in areas at high risk of fire were made by over-65s, while the rate went down to 2.6 percent among under-35s.

Why It Matters

Climate change is exacerbating …