Anna Rhodes & Max Besbris: Hurricane Ian will lead to growing inequality, and heighten racial disparities. - NBCNewsTHINK
Ultimately, lowered home values mean less wealth to pass on to future generations. If Florida’s nonwhite communities see their home values lowered more steeply and for longer time periods than their white counterparts do, Hurricane Ian will exacerbate anAs home values are further affected by climate-related disasters, that will also shape who can most easily move away from vulnerable locations.
As a result, some could not fund their repairs and were still living without floors or interior walls two years after the storm. These residents felt stuck relative to neighbors who had insurance. Some wanted to move away from Friendswood — which they believed would flood again — but could not afford to.
Indeed, homeowners whose home values rebound more quickly — again, those in whiter and wealthier communities — can more easily sell their homes and move away from vulnerable places. So as wealthier homeowners move into less vulnerable — and previously less desirable — inland communities, we may see morePut another way, the growing inequality spurred by disasters is multifaceted and long-term.
Without changes to make current recovery policies more equitable, including strategic large-scale investments in from vulnerable places, climate-related disasters like Hurricane Ian are increasingly going to be a cause of inequality, driving differences in wealth, mobility and vulnerability in future disasters.
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