Housing and climate change are connected. Like unaffordability, climate change is an additional threat to housing security in Canada, displacing millions of people from their homes every year. People who are displaced due to climate disasters, or who are unhoused, feel the effects of climate events and extreme weather more intensely than people who have secure housing. Ensuring adequate, affordable housing for everyone is key to protecting communities from the effects of climate change.
The evolving role of climate risk in the global real estate market and insurance markets could gentrify low-risk areas while pushing less-privileged people to the regions hit hardest by climate impacts.