Climate Change A Factor When Buying A House
It is a proven fact that people want to live with like-minded people. That is why we tend to lean towards a neighbourhood where we feel similar-thought people are living. The latest factor to influence people into buy real estate in Canada, is – their belief in climate change.
Some Facts -
A waterfront property in Montreal comes with a discount, and prices of houses in flood-risk areas are comparatively lower because people there believe that climate change is a reality.
Disputing The Facts -
- The study was conducted in the US market and cannot be said to define Canadian intentions as Canadians are not that easily swayed by beliefs.
- The price differentiation is prominently visible only in owner-occupied units.
Alternate Scenarios -
On the other hand, if all the people are equally affected after acknowledging the impact of climate change, then their study will hold no relevance.
Alternatively, if the Government decides to take concrete action against oft-occurring natural disasters, then the entire dynamics would change.