Former subprime player claims he can now short the mortgage market for climate and Covid risks
Publish Date: 11/23/2020
News Source: CNBC
As the risks of floods, fires and wind increase, the cost of owning a home will go up — costs from higher insurance rates, higher taxes and uninsured losses. As the cost goes up, the value of the home goes down, and, consequently, the mortgage on the home is at higher risk of default.
