Ben Keyes

And so I think that's maybe an extreme example where the pendulum has swung in the direction of development, but we just need to loosen the gears. And so looking to a city like Tokyo as an example is potentially a promising one.

Well, we know that the president can't affect mortgage rates, but I'm not sure that he knows that the president can't affect mortgage rates. This is something that is very challenging for the executive office to influence. Mortgage rates are set usually off of the 10-year treasury rate, and the 10-year treasury rate is determined by the bond market. It's determined by the willingness of...

Well, we know that the president can't affect mortgage rates, but I'm not sure that he knows that the president can't affect mortgage rates. This is something that is very challenging for the executive office to influence. Mortgage rates are set usually off of the 10-year treasury rate, and the 10-year treasury rate is determined by the bond market. It's determined by the willingness of...

Well, we know that the president can't affect mortgage rates, but I'm not sure that he knows that the president can't affect mortgage rates. This is something that is very challenging for the executive office to influence. Mortgage rates are set usually off of the 10-year treasury rate, and the 10-year treasury rate is determined by the bond market. It's determined by the willingness of...

long-term bondholders to demand a certain return in exchange for the bond. Part of the reason that we're seeing high mortgage rates is a high 10-year treasury rate. And that's because those bond investors are anticipating inflation. They're anticipating that this new administration is going to keep the Tax Cuts and Jobs Act in place. That's going to continue to worsen our federal deficit.

long-term bondholders to demand a certain return in exchange for the bond. Part of the reason that we're seeing high mortgage rates is a high 10-year treasury rate. And that's because those bond investors are anticipating inflation. They're anticipating that this new administration is going to keep the Tax Cuts and Jobs Act in place. That's going to continue to worsen our federal deficit.

long-term bondholders to demand a certain return in exchange for the bond. Part of the reason that we're seeing high mortgage rates is a high 10-year treasury rate. And that's because those bond investors are anticipating inflation. They're anticipating that this new administration is going to keep the Tax Cuts and Jobs Act in place. That's going to continue to worsen our federal deficit.

That there's probably more and bigger tax cuts on the horizon. And that the tariff policies that have been proposed would likely be inflationary. And so, you know, it's largely inflation expectations over a longer time horizon that are driving that 10-year treasury rate and ultimately driving the mortgage rate.

That there's probably more and bigger tax cuts on the horizon. And that the tariff policies that have been proposed would likely be inflationary. And so, you know, it's largely inflation expectations over a longer time horizon that are driving that 10-year treasury rate and ultimately driving the mortgage rate.

That there's probably more and bigger tax cuts on the horizon. And that the tariff policies that have been proposed would likely be inflationary. And so, you know, it's largely inflation expectations over a longer time horizon that are driving that 10-year treasury rate and ultimately driving the mortgage rate.

And so because mortgages are these very long-duration products, the president has very little scope for directly influencing mortgage rates. And when we think about the policies that they could implement, keeping inflation down and having a very disciplined fiscal policy is probably the main thing that they could do directly.

And so because mortgages are these very long-duration products, the president has very little scope for directly influencing mortgage rates. And when we think about the policies that they could implement, keeping inflation down and having a very disciplined fiscal policy is probably the main thing that they could do directly.

And so because mortgages are these very long-duration products, the president has very little scope for directly influencing mortgage rates. And when we think about the policies that they could implement, keeping inflation down and having a very disciplined fiscal policy is probably the main thing that they could do directly.

I think there's a very direct line to be drawn between rising climate risks and the costs of homeownership in the form of property insurance. And property insurance to me is the most direct way where we're seeing the effects of climate change on Americans' pocketbooks. And in just the last three years, 2020 to 2023, my research with Phil Mulder has shown that

I think there's a very direct line to be drawn between rising climate risks and the costs of homeownership in the form of property insurance. And property insurance to me is the most direct way where we're seeing the effects of climate change on Americans' pocketbooks. And in just the last three years, 2020 to 2023, my research with Phil Mulder has shown that

I think there's a very direct line to be drawn between rising climate risks and the costs of homeownership in the form of property insurance. And property insurance to me is the most direct way where we're seeing the effects of climate change on Americans' pocketbooks. And in just the last three years, 2020 to 2023, my research with Phil Mulder has shown that

That property insurance has gone up by over 33% on average in the U.S. and over 50% in the areas of the country most exposed to climate risk. And so property insurance, over 50% in the riskiest zip codes.

That property insurance has gone up by over 33% on average in the U.S. and over 50% in the areas of the country most exposed to climate risk. And so property insurance, over 50% in the riskiest zip codes.

That property insurance has gone up by over 33% on average in the U.S. and over 50% in the areas of the country most exposed to climate risk. And so property insurance, over 50% in the riskiest zip codes.

And that's, you know, the places that might come to mind are places like Florida and the Gulf Coast, wildfire zones in California, but also some surprises like parts of Oklahoma where they're hit with a lot of hailstorms and tornadoes. And there we've seen big run-ups in property insurance costs.