The meteorologist on the news reported a hailstorm brewing with three-inch hail across northern Texas, central Oklahoma, and southern Nebraska. Almost immediately, the claims began. Some were clearly related to the current storm, but others raised suspicions of pre-existing hail damage. To prepare for the avalanche of claims, adjusters across the area began calculating the number of impacted roofs, but the data just wasn’t accurate enough — yet. That left many worried about the long-term impact of the storm. After all, it was only the start of the season, and underwriting ratios were already in the red. Granular analysis from our vast repository of macro seasonal trends and potential worst-case scenarios are already helping insurers decode the risk associated with the upcoming severe convective storm season. We synthesize our insights to make it simple to evaluate future potential losses and model profitability. While severe convective storm activity is a year-long …
Why Is Flood Risk Surpassing Fire Risk in California?
Chart of the Month — February 2025 Overview By 2050, over 1 million homes in Los Angeles, San Diego, and San Francisco with low flood risk will see their flood risk rise higher than their fire risk. Flood risk increases in areas recently burned by wildfire. Even without assuming worst-case climate scenarios, homes with very low flood risk will have risk increase by 40 points or more by 2050. Risks from natural hazards can be interdependent. The fires in Los Angeles this January followed two years of wet winters which encouraged the vegetation growth that became wildfire fuel. Now, the metro’s burned areas lack the vegetation that can absorb water, making them more vulnerable to flood. This cycle is one that repeats itself across California, but each area of the state faces a different level of risk. And that risk is not trivial. In Los Angeles, San Diego, and San …
10 Markets Where Gen Z Can Buy a Home
Gen Z Homeownership is Highest in the Midwest for 2024 Gen Z accounted for 13% of home purchase applications. Midwest markets had a higher share of Gen Z homebuyers in 2024. Many Gen Z homebuyers are single, but about 45% of the applicants had co-applicants in 2024. The unprecedented rise in home prices and elevated mortgage rates that have dominated the market since 2021 have significantly impacted housing affordability, particularly for younger buyers. Despite these challenges, Gen Z is managing to enter the housing market. According to the CoreLogic Loan Application Database, this generation’s share of home-purchase applications accounted for 13% of total applications in 2024, a three-percentage point increase from 2023.1 Their presence in the market is expected to grow in the coming years. Where Can Gen Z Buy a Home? Gen Z represents a higher proportion of homebuyers in Midwestern markets but a lower proportion in more expensive …