Rabe speaks with Bloomberg Businessweek on climate change perceptions
Bloomberg Businessweek interviewed Barry Rabe in an article about the impact of Hurricane Sandy on oceanfront home purchases in New Jersey where damage from the storm was great. According to the article, home prices along the East Coast have continued to rise, despite the risk of damage posed by future storms.
Rabe spoke with Bloomberg Businessweek about how the perception of global warming may impact home buying. Among people who believe global warming is occurring, a greater portion saw severe storms as evidence of climate change following Hurricane Sandy, Rabe said. However, this may not lead to immediate change in behavior.
"Even if you believe climate change is occurring," Rabe told Bloomberg Businessweek, "there is no certainty that the risk is going to hit you, or that the proverbial lightning will strike you twice."
However, Rabe said that over time the growing severity of weather patterns may eventually influence the decisions of individuals and policymakers.