Ben Keys
@benkeys.bsky.social
I’m not a player I just lurk a lot. Economist and Professor of Real Estate and Finance at the University of Pennsylvania’s Wharton School
Reposted by Ben Keys
It's Thanksgiving and I'm feeling generous so here's Busta Rhymes and the TMNT
November 27, 2025 at 5:38 PM
It's Thanksgiving and I'm feeling generous so here's Busta Rhymes and the TMNT
Reposted by Ben Keys
"We show that rising insurance premiums, driven by changing reinsurance prices that reflect increasing catastrophic risk, are being capitalized into house prices, and may further reduce demand for properties exposed to increasing disaster risk."
Philip Mulder and I are excited to share a major update to our working paper, "Property Insurance and Disaster Risk: New Evidence from Mortgage Escrow Data," with NYT coverage and making our data publicly available!
www.nber.org/papers/w32579
(1/n)
www.nber.org/papers/w32579
(1/n)
Property Insurance and Disaster Risk: New Evidence from Mortgage Escrow Data
Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, an...
www.nber.org
November 27, 2025 at 5:03 PM
"We show that rising insurance premiums, driven by changing reinsurance prices that reflect increasing catastrophic risk, are being capitalized into house prices, and may further reduce demand for properties exposed to increasing disaster risk."
A very happy Taco Party for Dragons at Robbie’s House to all who celebrate!
November 24, 2025 at 1:00 AM
A very happy Taco Party for Dragons at Robbie’s House to all who celebrate!
Reposted by Ben Keys
"Climate shock." New study shows that rising property insurance premiums caused by growing weather extremes are cascading into the real estate market. Homes in the ZIP codes most exposed to hurricanes and wildfires would sell for an average of $43,900 less than they would otherwise.
November 20, 2025 at 11:12 PM
"Climate shock." New study shows that rising property insurance premiums caused by growing weather extremes are cascading into the real estate market. Homes in the ZIP codes most exposed to hurricanes and wildfires would sell for an average of $43,900 less than they would otherwise.
Reposted by Ben Keys
Home Prices on a Warming Planet
"chaos in the insurance market is starting to eat into the real estate market in some places, a scenario that experts have dreaded for years"...
www.nytimes.com/2025/11/20/c...
"chaos in the insurance market is starting to eat into the real estate market in some places, a scenario that experts have dreaded for years"...
www.nytimes.com/2025/11/20/c...
Home Prices on a Warming Planet
www.nytimes.com
November 21, 2025 at 4:04 PM
Home Prices on a Warming Planet
"chaos in the insurance market is starting to eat into the real estate market in some places, a scenario that experts have dreaded for years"...
www.nytimes.com/2025/11/20/c...
"chaos in the insurance market is starting to eat into the real estate market in some places, a scenario that experts have dreaded for years"...
www.nytimes.com/2025/11/20/c...
Reposted by Ben Keys
A member of Congress just filled out a threat report with the Capitol Police naming the President of the United States as the person making the threat.
Think of where we were on January 7, 2021 when the country overwhelmingly repudiated what had happened.
And think of where we are now.
Think of where we were on January 7, 2021 when the country overwhelmingly repudiated what had happened.
And think of where we are now.
November 21, 2025 at 1:18 PM
A member of Congress just filled out a threat report with the Capitol Police naming the President of the United States as the person making the threat.
Think of where we were on January 7, 2021 when the country overwhelmingly repudiated what had happened.
And think of where we are now.
Think of where we were on January 7, 2021 when the country overwhelmingly repudiated what had happened.
And think of where we are now.
Reposted by Ben Keys
Call for Graduate Student Fellowship Applicants: The NBER is accepting applications for 15 dissertation-writer fellowships on various topics for the 2026-27 academic year. Deadlines are Jan. 4-8, 2026. Further information: www.nber.org/career-resou...
November 20, 2025 at 9:00 PM
Call for Graduate Student Fellowship Applicants: The NBER is accepting applications for 15 dissertation-writer fellowships on various topics for the 2026-27 academic year. Deadlines are Jan. 4-8, 2026. Further information: www.nber.org/career-resou...
Reposted by Ben Keys
NYT: “.. high insurance costs are cascading into the broader real estate market, suppressing home values by an average of $44,000 in the top 10 percent of U.S. ZIP codes most vulnerable to hurricanes and wildfires ..”
@nytimes.com
www.nytimes.com/interactive/...
@nytimes.com
www.nytimes.com/interactive/...
November 20, 2025 at 8:06 PM
NYT: “.. high insurance costs are cascading into the broader real estate market, suppressing home values by an average of $44,000 in the top 10 percent of U.S. ZIP codes most vulnerable to hurricanes and wildfires ..”
@nytimes.com
www.nytimes.com/interactive/...
@nytimes.com
www.nytimes.com/interactive/...
Reposted by Ben Keys
We document rapidly rising premiums & a doubling of the pass-through from disaster risk into premiums. Using variation in correlated wildfire and hurricane exposure, we show that the increase in the risk-to-premium gradient was accelerated by a repricing of catastrophic risk in global capital market
November 19, 2025 at 9:33 PM
We document rapidly rising premiums & a doubling of the pass-through from disaster risk into premiums. Using variation in correlated wildfire and hurricane exposure, we show that the increase in the risk-to-premium gradient was accelerated by a repricing of catastrophic risk in global capital market
Reposted by Ben Keys
Keys & Mulder build dataset to study homeowners insurance using over 74 million premiums from 2014–2024 inferred from mortgage escrow payments. Premium increases are capitalized into home values, reducing home price growth by over $40,000 in the most exposed zip codes. www.nber.org/papers/w32579
November 19, 2025 at 9:33 PM
Keys & Mulder build dataset to study homeowners insurance using over 74 million premiums from 2014–2024 inferred from mortgage escrow payments. Premium increases are capitalized into home values, reducing home price growth by over $40,000 in the most exposed zip codes. www.nber.org/papers/w32579
Philip Mulder and I are excited to share a major update to our working paper, "Property Insurance and Disaster Risk: New Evidence from Mortgage Escrow Data," with NYT coverage and making our data publicly available!
www.nber.org/papers/w32579
(1/n)
www.nber.org/papers/w32579
(1/n)
Property Insurance and Disaster Risk: New Evidence from Mortgage Escrow Data
Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, an...
www.nber.org
November 19, 2025 at 5:17 PM
Philip Mulder and I are excited to share a major update to our working paper, "Property Insurance and Disaster Risk: New Evidence from Mortgage Escrow Data," with NYT coverage and making our data publicly available!
www.nber.org/papers/w32579
(1/n)
www.nber.org/papers/w32579
(1/n)
Reposted by Ben Keys
See my commentary in @nytimes.com in re climatic & non-climatic factors pushing down home prices (always excellent work of @benkeys.bsky.social & P. Mulder) Amazing to see how far prices have tanked in Nola. Good News: homes w/ Fortified Roofs are holding their value. www.nytimes.com/interactive/...
Rising Home Insurance Premiums Are Eating Into Home Values in Disaster-Prone Areas (Gift Article)
Changes in the insurance market have started to affect home prices in the most disaster-prone areas, new research finds, pushing some homeowners’ finances to the breaking point.
www.nytimes.com
November 19, 2025 at 12:51 PM
See my commentary in @nytimes.com in re climatic & non-climatic factors pushing down home prices (always excellent work of @benkeys.bsky.social & P. Mulder) Amazing to see how far prices have tanked in Nola. Good News: homes w/ Fortified Roofs are holding their value. www.nytimes.com/interactive/...
Reposted by Ben Keys
Senator Menendez is sitting in his cell at Allenwood right now because he took a 1kg gold bar from the Egyptians, among other forms of “lobbying.”
"It was tough to beat Apple, but the Swiss did it." said one administration official.
How the Swiss convinced Trump to drop tariffs with gifts of a Rolex desk clock and a 1 kg gold bar.
www.axios.com/2025/11/14/t...
How the Swiss convinced Trump to drop tariffs with gifts of a Rolex desk clock and a 1 kg gold bar.
www.axios.com/2025/11/14/t...
How to lobby Trump with Swiss precision: gifts, gold and gab
How the Swiss broke a diplomatic logjam on tariffs by arriving with tributes fit for a king.
www.axios.com
November 15, 2025 at 4:31 PM
Senator Menendez is sitting in his cell at Allenwood right now because he took a 1kg gold bar from the Egyptians, among other forms of “lobbying.”
Reposted by Ben Keys
My group at the University of Illinois is hiring a tenure-track applied economist.
We're especially interested in environmental/public reduced-form rookies with research that complements our group.
Tell your students to apply! #EconSky
www.aeaweb.org/joe/listing....
We're especially interested in environmental/public reduced-form rookies with research that complements our group.
Tell your students to apply! #EconSky
www.aeaweb.org/joe/listing....
American Economic Association: JOE Listings - August 1, 2025 - January 31, 2026
www.aeaweb.org
November 11, 2025 at 11:00 PM
My group at the University of Illinois is hiring a tenure-track applied economist.
We're especially interested in environmental/public reduced-form rookies with research that complements our group.
Tell your students to apply! #EconSky
www.aeaweb.org/joe/listing....
We're especially interested in environmental/public reduced-form rookies with research that complements our group.
Tell your students to apply! #EconSky
www.aeaweb.org/joe/listing....
Reposted by Ben Keys
I hope future generations recognize how quickly and strangely the contours of what counts as a political scandal changed for this president.
O'DONNELL: Why did you pardon Changpeng Zhao?
TRUMP: Are you ready? I don't know who he is
O'DONNELL: His crypto exchange Binance helped facilitate a $2b purchase of World Liberty Financial's stablecoin. And they you pardoned him.
TRUMP: Here's the thing -- I know nothing about it
TRUMP: Are you ready? I don't know who he is
O'DONNELL: His crypto exchange Binance helped facilitate a $2b purchase of World Liberty Financial's stablecoin. And they you pardoned him.
TRUMP: Here's the thing -- I know nothing about it
November 3, 2025 at 1:37 AM
I hope future generations recognize how quickly and strangely the contours of what counts as a political scandal changed for this president.
Reposted by Ben Keys
A pardon "following months of efforts by Zhao to boost the Trump family’s own crypto company." Unprecedented corruption.
President Trump has pardoned Binance founder Changpeng Zhao, whose crypto exchange has been boosting the Trump family's own crypto venture.
Exclusive | Trump Pardons Convicted Binance Founder
The pardon follows months of efforts by Changpeng Zhao to boost Trump crypto company
on.wsj.com
October 23, 2025 at 3:17 PM
A pardon "following months of efforts by Zhao to boost the Trump family’s own crypto company." Unprecedented corruption.
Reposted by Ben Keys
Today, the U.S. faces one billion+ dollar climate/weather disaster on average every 2w. That's a massive increase from one every 4m in the 1980s.
This is 'global weirding' and people are taking notice!
The government told NOAA to stop tracking these events: but @climatecentral.org is on the job.
This is 'global weirding' and people are taking notice!
The government told NOAA to stop tracking these events: but @climatecentral.org is on the job.
U.S. Billion-Dollar Weather and Climate Disasters | Climate Central
Explore U.S. billion-dollar weather and climate disasters since 1980, including total costs, trends, and impacts.
www.climatecentral.org
October 22, 2025 at 4:11 PM
Today, the U.S. faces one billion+ dollar climate/weather disaster on average every 2w. That's a massive increase from one every 4m in the 1980s.
This is 'global weirding' and people are taking notice!
The government told NOAA to stop tracking these events: but @climatecentral.org is on the job.
This is 'global weirding' and people are taking notice!
The government told NOAA to stop tracking these events: but @climatecentral.org is on the job.
Reposted by Ben Keys
Impunity for his allies even as he forces prosecutions of his enemies (Comey, James, soon possibly Schmitt and more) and prepares to deploy the IRS against groups that oppose him
I think at this point it’s fair to say that we’re no longer under the rule of law.
Trump Orders Santos to Be Freed From Prison ‘Immediately’ www.nytimes.com/2025/10/17/u...
Trump Orders Santos to Be Freed From Prison ‘Immediately’ www.nytimes.com/2025/10/17/u...
Trump Orders Santos to Be Freed From Prison ‘Immediately’
www.nytimes.com
October 18, 2025 at 1:50 AM
Impunity for his allies even as he forces prosecutions of his enemies (Comey, James, soon possibly Schmitt and more) and prepares to deploy the IRS against groups that oppose him
Reposted by Ben Keys
this white house actively treats a large swath of americans as disloyal and outside the political community and it doesn’t merit so much as a peep from the political press
Leavitt: "The Democrat Party's main constituency is made up of Hamas terrorists, illegal aliens, and violent criminals."
October 17, 2025 at 12:48 AM
this white house actively treats a large swath of americans as disloyal and outside the political community and it doesn’t merit so much as a peep from the political press
Reposted by Ben Keys
Wharton’s real estate department is hiring pre-docs!
Please send your amazing undergrads our way and reach out with any questions! #Econsky
Please send your amazing undergrads our way and reach out with any questions! #Econsky
🚨 undergrads and masters students interested in careers in applied econ research:
My department is recruiting 4-5 full-time RAs to start summer 2026. See the announcement here for more details: jessiehandbury.com/misc/RAflyer...
A few reasons you should apply...
My department is recruiting 4-5 full-time RAs to start summer 2026. See the announcement here for more details: jessiehandbury.com/misc/RAflyer...
A few reasons you should apply...
jessiehandbury.com
October 13, 2025 at 7:27 PM
Wharton’s real estate department is hiring pre-docs!
Please send your amazing undergrads our way and reach out with any questions! #Econsky
Please send your amazing undergrads our way and reach out with any questions! #Econsky
Reposted by Ben Keys
Before catastrophic floods swept through the Alaska Native village of Kipnuk on Sunday, the EPA canceled a $20 million grant intended to protect the community from extreme flooding. www.nytimes.com/2025/10/14/c...
Before Alaska Flooding, E.P.A. Canceled $20 Million Flood Protection Grant
www.nytimes.com
October 14, 2025 at 10:42 PM
Before catastrophic floods swept through the Alaska Native village of Kipnuk on Sunday, the EPA canceled a $20 million grant intended to protect the community from extreme flooding. www.nytimes.com/2025/10/14/c...
Wharton’s real estate department is hiring pre-docs!
Please send your amazing undergrads our way and reach out with any questions! #Econsky
Please send your amazing undergrads our way and reach out with any questions! #Econsky
🚨 undergrads and masters students interested in careers in applied econ research:
My department is recruiting 4-5 full-time RAs to start summer 2026. See the announcement here for more details: jessiehandbury.com/misc/RAflyer...
A few reasons you should apply...
My department is recruiting 4-5 full-time RAs to start summer 2026. See the announcement here for more details: jessiehandbury.com/misc/RAflyer...
A few reasons you should apply...
jessiehandbury.com
October 13, 2025 at 7:27 PM
Wharton’s real estate department is hiring pre-docs!
Please send your amazing undergrads our way and reach out with any questions! #Econsky
Please send your amazing undergrads our way and reach out with any questions! #Econsky
Reposted by Ben Keys
Here is our full story that Vance is dismissing, with primary source documents showing Trump cabinet members with multiple primary-residence mortgages
www.propublica.org/article/trum...
www.documentcloud.org/documents/26...
www.propublica.org/article/trum...
www.documentcloud.org/documents/26...
October 12, 2025 at 5:24 PM
Here is our full story that Vance is dismissing, with primary source documents showing Trump cabinet members with multiple primary-residence mortgages
www.propublica.org/article/trum...
www.documentcloud.org/documents/26...
www.propublica.org/article/trum...
www.documentcloud.org/documents/26...
Reposted by Ben Keys
No words
May 30, 2025 at 12:23 PM
No words
Reposted by Ben Keys
The Trump administration canceled a $7 billion program intended to help low- and moderate-income families install rooftop solar panels. The cuts are dealing a disproportionate blow to the Republican-led states that propelled him back to office.
Solar for All Program Cuts Hit G.O.P and Democrat Voters Alike
The Trump administration canceled a $7 billion program intended to help low- and moderate-income families install rooftop solar panels.
nyti.ms
October 11, 2025 at 11:55 PM
The Trump administration canceled a $7 billion program intended to help low- and moderate-income families install rooftop solar panels. The cuts are dealing a disproportionate blow to the Republican-led states that propelled him back to office.