Latest / The Kākā by Bernard Hickey
The climate landmine under our economy (a housing market with bits tacked on)
TL;DR: Once a year, every year, from now on, in our not-so-slow-cooking climate crisis, there will be a moment when the most important number in Aotearoa’s own personal, national and financial economies could implode. It is the day when the annual home insurance renewal letter arrives to advise there will be no renewal.
Reserve Bank (Te Pūtea Matua) analysis released this week showed 25% of Auckland’s homes could be affected by rising sea levels and/or a 1-in-100 year type of storm, with some vulnerable to a complete wipeout of their values. It also showed a ticking time bomb underneath those…
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