Physical, economic, and social changes associated with a changing climate will directly affect the $50 trillion single-family residential real estate and $25 trillion commercial real estate markets in the United States. Because real estate owners and other real estate market participants keenly focus on the identification, assessment, mitigation, underwriting, insurance, and pricing of risk, they create a unique case study for understanding the ways in which climate related risks are likely to impact individual actors and the market ecosystem as a whole.

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