A ‘man-made disaster’ could make it trickier to buy or sell a home in some areas this fall, real estate expert says

Real estate experts are warning that certain areas may face difficulties in buying or selling homes this fall due to "man-made disasters". These types of disasters are typically the result of human activities negatively impacting the environment, such as pollution, deforestation, or man-made climate change and its effects such as increasing wildfires, floods, or extreme weather events. Some buyers might be hesitant to invest in areas prone to such disasters, fearing potential property damage and loss of value. On the other hand, sellers might struggle to find buyers willing to take the risk. This could potentially lead to a slow down in the real estate market in specific regions more prone to these types of disasters. However, strategies can be implemented to mitigate these effects. These might include investing in environmentally sustainable building practices, creating disaster response plans, and strengthening local infrastructure. Buyers and sellers should also thoroughly research the area for any potential risks and work closely with a knowledgeable real estate agent to make the best possible decisions. Finally, insurance companies also play a significant role. If companies start to increase premiums or refuse to insure homes in high-risk areas, it could further exacerbate the problem. Therefore, regulatory involvement might also become necessary to ensure that insurance remains affordable and accessible.