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THE COASTAL REAL ESTATE RECKONING IS ALREADY HAPPENING

With Professor Benjamin Keys, Rowan Family Foundation Associate Professor of Real Estate at the Wharton School of Business at the University of Pennsylvania

4 p.m. Wednesday, April 21

Is a U.S. coastal housing bubble bursting? Under most climate forecasts, the question is not if but when property values will reflect expected sea level rise. In this talk, Professor Keys will describe research on how climate change is affecting housing and mortgage markets in coastal Florida, one of the most vulnerable coastline in the world with over 300,000 homes worth over $145 billion at risk to sea level rise. Solutions to restore confidence in coastal markets include substantial infrastructure improvements and asset repositioning to address the reality of rising seas.

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Presented by Professor Benjamin Keys, Rowan Family Foundation Associate Professor of Real Estate at the Wharton School of Business at the University of Pennsylvania

Is a U.S. coastal housing bubble bursting? Under most climate forecasts, the question is not if but when property values will reflect the expected sea-level rise. This talk will describe research on how climate change is affecting housing and mortgage markets in coastal Florida, one of the most vulnerable coastlines in the world with over 300,000 homes worth over $145 billion at risk to sea-level rise. Solutions to restore confidence in coastal markets include substantial infrastructure improvements and asset repositioning to address the reality of rising seas.  This presentation is being offered in conjunction with Florida Climate Week.

Professor Benjamin Keyes is Rowan Family Foundation Associate Professor of Real Estate at the Wharton School of Business at the University of Pennsylvania.  He is also a Faculty Research Fellow at the National Bureau of Economic Research.  Keys studies issues related to household finance, mortgage finance, real estate, applied econometrics, labor economics, and urban economics. Prior to Wharton, Keys was an Assistant Professor at the Harris School of Public Policy and Co-Director of the Kreisman Initiative on Housing Law and Policy at the University of Chicago. He had worked as a staff economist at the Board of Governors of the Federal Reserve System in the Division of Research and Statistics. Keys serves on the editorial boards of Management Science and the Journal of Housing Economics. He holds a B.A. in economics and political science from Swarthmore College and an M.A. and Ph.D. in economics from the University of Michigan.

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