“Increasing climate risks will cause home insurance prices to rapidly rise towards unaffordability; homeowners in risky areas unable to afford the (actual) price of home insurance will clamor for relief; policymakers unwilling to confront the underlying problem (climate change) will react with a series of increasingly desperate maneuvers to delay and paper over the issue; increasingly pricey disasters will cause state and local politicians to run to the federal government for bailouts; in time, this will lead to a political confrontation between those who are receiving aid, and those in safer areas who are paying for it. The end of this process will be a retreat from areas that have become untenable to live in due to climate change. Instead of carrying out this necessity in a managed and rational way, our political system and economic system, absent some deep changes, will cause it to unfold in a cutthroat, childish, maximally destructive way”
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