Susan Crawford
@scrawford.bsky.social
Writing about intersection between climate adaptation and finance. Substack https://susanpcrawford.substack.com
Author of Charleston: Race, Water, and the Storms to Come. Learning all the time.
Author of Charleston: Race, Water, and the Storms to Come. Learning all the time.
Legendary climate scientist James Hansen says climate risks for coastal cities--and young people’s futures--are far bigger and coming faster than most realize. Wall Street’s cyclic complacency can’t protect against rising seas. Column today: open.substack.com/pub/susanpcr...
James Hansen is trying to get a message across
Young investors are advised to take risks and stay the course. They need some real talk about the risks of climate change — to coastal cities, to the economy, and to their futures
open.substack.com
November 19, 2025 at 2:59 PM
Legendary climate scientist James Hansen says climate risks for coastal cities--and young people’s futures--are far bigger and coming faster than most realize. Wall Street’s cyclic complacency can’t protect against rising seas. Column today: open.substack.com/pub/susanpcr...
Tom Metcalfe, a scholar from the year 2120 in Ian McEwan’s "What We Can Know," yearns for our long lifespans and wild landscapes. It's a literary, time-bending, and moving reminder of what we have to lose ... column today
susanpcrawford.substack.com/p/ten-things...
susanpcrawford.substack.com/p/ten-things...
Ten things Tom Metcalfe yearns for most
In Ian McEwan’s new novel “What We Can Know,” a scholar in 2120 looks back with longing at the climate we take for granted
susanpcrawford.substack.com
November 11, 2025 at 1:19 PM
Tom Metcalfe, a scholar from the year 2120 in Ian McEwan’s "What We Can Know," yearns for our long lifespans and wild landscapes. It's a literary, time-bending, and moving reminder of what we have to lose ... column today
susanpcrawford.substack.com/p/ten-things...
susanpcrawford.substack.com/p/ten-things...
Reposted by Susan Crawford
0.5 % annual risk ... is a key metric for running a large insurance business in the NE. Why isn’t that level of risk the planning lever for governments... driving building codes, land use decisions, and investment priorities? @scrawford.bsky.social
susanpcrawford.substack.com/p/insurers-p...
susanpcrawford.substack.com/p/insurers-p...
Insurers plan for extreme events that could crater their solvency. Shouldn’t all levels of government do the same?
What if a storm like Melissa hit the northeast US?
susanpcrawford.substack.com
November 8, 2025 at 3:29 AM
0.5 % annual risk ... is a key metric for running a large insurance business in the NE. Why isn’t that level of risk the planning lever for governments... driving building codes, land use decisions, and investment priorities? @scrawford.bsky.social
susanpcrawford.substack.com/p/insurers-p...
susanpcrawford.substack.com/p/insurers-p...
Reposted by Susan Crawford
I can tell you this: Based on multiple tabletop exercises with local municipalities around Massachusetts- No, they are not prepared. No matter what you hear. Local EM capacity is not up for it.
Insurers plan for 1-in-200-year storms. Why don’t governments?
If a Melissa-level hurricane hit the Northeast, would we be ready? New column looks at climate whiplash, risk, and what real preparedness means.
open.substack.com/pub/susanpcr...
If a Melissa-level hurricane hit the Northeast, would we be ready? New column looks at climate whiplash, risk, and what real preparedness means.
open.substack.com/pub/susanpcr...
Insurers plan for extreme events that could crater their solvency. Shouldn’t all levels of government do the same?
What if a storm like Melissa hit the northeast US?
open.substack.com
November 7, 2025 at 3:26 PM
I can tell you this: Based on multiple tabletop exercises with local municipalities around Massachusetts- No, they are not prepared. No matter what you hear. Local EM capacity is not up for it.
Reposted by Susan Crawford
“A 0.5% annual risk might sound pretty low. But it’s a key metric for running a large insurance business in the Northeast. Why isn’t at least that level of risk the planning lever for local governments in that region, driving building codes, land use decisions, and investment priorities?”
Insurers plan for 1-in-200-year storms. Why don’t governments?
If a Melissa-level hurricane hit the Northeast, would we be ready? New column looks at climate whiplash, risk, and what real preparedness means.
open.substack.com/pub/susanpcr...
If a Melissa-level hurricane hit the Northeast, would we be ready? New column looks at climate whiplash, risk, and what real preparedness means.
open.substack.com/pub/susanpcr...
Insurers plan for extreme events that could crater their solvency. Shouldn’t all levels of government do the same?
What if a storm like Melissa hit the northeast US?
open.substack.com
November 7, 2025 at 3:20 PM
“A 0.5% annual risk might sound pretty low. But it’s a key metric for running a large insurance business in the Northeast. Why isn’t at least that level of risk the planning lever for local governments in that region, driving building codes, land use decisions, and investment priorities?”
Insurers plan for 1-in-200-year storms. Why don’t governments?
If a Melissa-level hurricane hit the Northeast, would we be ready? New column looks at climate whiplash, risk, and what real preparedness means.
open.substack.com/pub/susanpcr...
If a Melissa-level hurricane hit the Northeast, would we be ready? New column looks at climate whiplash, risk, and what real preparedness means.
open.substack.com/pub/susanpcr...
Insurers plan for extreme events that could crater their solvency. Shouldn’t all levels of government do the same?
What if a storm like Melissa hit the northeast US?
open.substack.com
November 7, 2025 at 1:29 PM
Insurers plan for 1-in-200-year storms. Why don’t governments?
If a Melissa-level hurricane hit the Northeast, would we be ready? New column looks at climate whiplash, risk, and what real preparedness means.
open.substack.com/pub/susanpcr...
If a Melissa-level hurricane hit the Northeast, would we be ready? New column looks at climate whiplash, risk, and what real preparedness means.
open.substack.com/pub/susanpcr...
Reposted by Susan Crawford
Fire risk: "Why would the federal government go into the business of subsidizing living in areas that insurers don’t want to insure and reinsurers don’t want to cover?", asks @scrawford.bsky.social
Nevada just let property insurers exclude wildfire coverage. Homeowners won’t realize until it’s too late that fire isn't covered. Expect shock, underinsurance, and scrambling for expensive new policies. Plus: pressure for a federal wildfire safety net. open.substack.com/pub/susanpcr...
What happens if property insurers are allowed to exclude wildfires from coverage?
“Are we just going to turn everybody loose and let the fires burn our houses down?” Nevada just did — and others may follow.
open.substack.com
October 31, 2025 at 3:23 PM
Fire risk: "Why would the federal government go into the business of subsidizing living in areas that insurers don’t want to insure and reinsurers don’t want to cover?", asks @scrawford.bsky.social
Reposted by Susan Crawford
Wait for the knock-on effect on the mortgage market....
Nevada just let property insurers exclude wildfire coverage. Homeowners won’t realize until it’s too late that fire isn't covered. Expect shock, underinsurance, and scrambling for expensive new policies. Plus: pressure for a federal wildfire safety net. open.substack.com/pub/susanpcr...
What happens if property insurers are allowed to exclude wildfires from coverage?
“Are we just going to turn everybody loose and let the fires burn our houses down?” Nevada just did — and others may follow.
open.substack.com
October 31, 2025 at 2:51 PM
Wait for the knock-on effect on the mortgage market....
Reposted by Susan Crawford
Trouble ahead: “Nevada is home to the fastest rate of Wildland-Urban Interface (WUI) development in the country—over the last 30 years, the number of homes in the WUI more than tripled. The state has also seen nearly 20% of its land area burn over the last 40 years.”
Nevada just let property insurers exclude wildfire coverage. Homeowners won’t realize until it’s too late that fire isn't covered. Expect shock, underinsurance, and scrambling for expensive new policies. Plus: pressure for a federal wildfire safety net. open.substack.com/pub/susanpcr...
What happens if property insurers are allowed to exclude wildfires from coverage?
“Are we just going to turn everybody loose and let the fires burn our houses down?” Nevada just did — and others may follow.
open.substack.com
October 31, 2025 at 2:11 PM
Trouble ahead: “Nevada is home to the fastest rate of Wildland-Urban Interface (WUI) development in the country—over the last 30 years, the number of homes in the WUI more than tripled. The state has also seen nearly 20% of its land area burn over the last 40 years.”
Reposted by Susan Crawford
Susan Crawford on Nevada exempting wildfire risk from home insurance coverage.
Climate policy and economic policy, not so separable.
Climate policy and economic policy, not so separable.
Nevada just let property insurers exclude wildfire coverage. Homeowners won’t realize until it’s too late that fire isn't covered. Expect shock, underinsurance, and scrambling for expensive new policies. Plus: pressure for a federal wildfire safety net. open.substack.com/pub/susanpcr...
What happens if property insurers are allowed to exclude wildfires from coverage?
“Are we just going to turn everybody loose and let the fires burn our houses down?” Nevada just did — and others may follow.
open.substack.com
October 31, 2025 at 12:36 PM
Susan Crawford on Nevada exempting wildfire risk from home insurance coverage.
Climate policy and economic policy, not so separable.
Climate policy and economic policy, not so separable.
Nevada just let property insurers exclude wildfire coverage. Homeowners won’t realize until it’s too late that fire isn't covered. Expect shock, underinsurance, and scrambling for expensive new policies. Plus: pressure for a federal wildfire safety net. open.substack.com/pub/susanpcr...
What happens if property insurers are allowed to exclude wildfires from coverage?
“Are we just going to turn everybody loose and let the fires burn our houses down?” Nevada just did — and others may follow.
open.substack.com
October 31, 2025 at 12:03 PM
Nevada just let property insurers exclude wildfire coverage. Homeowners won’t realize until it’s too late that fire isn't covered. Expect shock, underinsurance, and scrambling for expensive new policies. Plus: pressure for a federal wildfire safety net. open.substack.com/pub/susanpcr...
Reposted by Susan Crawford
We talk about the AI bubble a lot but we really should be talking about the climate-related housing bubble even more
The real estate industry & its Wall Street financiers would greatly prefer that we pretend climate change doesn't exist. So imagine the challenge they now face with Trump's proposed privatization of mortgage giants Fannie Mac and Freddie Mac. @scrawford.bsky.social explores how this could play out.
Trump’s planned Fannie and Freddie IPO and the climate elephant in the room
The mortgage giants’ potential privatization overlooks the rising floods and fires threatening the properties behind their mortgage-backed securities.
substack.com
October 17, 2025 at 6:56 PM
We talk about the AI bubble a lot but we really should be talking about the climate-related housing bubble even more
Reposted by Susan Crawford
The real estate industry & its Wall Street financiers would greatly prefer that we pretend climate change doesn't exist. So imagine the challenge they now face with Trump's proposed privatization of mortgage giants Fannie Mac and Freddie Mac. @scrawford.bsky.social explores how this could play out.
Trump’s planned Fannie and Freddie IPO and the climate elephant in the room
The mortgage giants’ potential privatization overlooks the rising floods and fires threatening the properties behind their mortgage-backed securities.
substack.com
October 17, 2025 at 5:03 PM
The real estate industry & its Wall Street financiers would greatly prefer that we pretend climate change doesn't exist. So imagine the challenge they now face with Trump's proposed privatization of mortgage giants Fannie Mac and Freddie Mac. @scrawford.bsky.social explores how this could play out.
Reposted by Susan Crawford
Another great read from @scrawford.bsky.social, with necessary (but politically hard) solutions. “Unless governments at all levels do the extraordinarily difficult work of forcing physical changes that will keep people safer, only despair, foreclosures, and sinking markets are ahead.”
California’s FAIR Plan seeks 36% rate increase as wildfire risk and insurer exits surge. With $650B in exposure but just $1.5B cash on hand, the math no longer works. Homeowners face costly coverage, rising assessments, and a volatile market going forward. open.substack.com/pub/susanpcr...
California's insurer of last resort seeks 36% rate hike
As authorities solve one mystery—who set the fire that devastated Pacific Palisades—another deepens: how to make the math work for home insurance in California
open.substack.com
October 16, 2025 at 1:25 AM
Another great read from @scrawford.bsky.social, with necessary (but politically hard) solutions. “Unless governments at all levels do the extraordinarily difficult work of forcing physical changes that will keep people safer, only despair, foreclosures, and sinking markets are ahead.”
Taking Fannie Mae and Freddie Mac public harnesses faith that markets always rise and housing always recovers. But their MBS include hold loans tied to climate‑vulnerable places, and the public will still be on the hook when things go bad. Post today:
open.substack.com/pub/susanpcr...
open.substack.com/pub/susanpcr...
Trump’s planned Fannie and Freddie IPO and the climate elephant in the room
The mortgage giants’ potential privatization overlooks the rising floods and fires threatening the properties behind their mortgage-backed securities.
open.substack.com
October 17, 2025 at 3:22 PM
Taking Fannie Mae and Freddie Mac public harnesses faith that markets always rise and housing always recovers. But their MBS include hold loans tied to climate‑vulnerable places, and the public will still be on the hook when things go bad. Post today:
open.substack.com/pub/susanpcr...
open.substack.com/pub/susanpcr...
Reposted by Susan Crawford
There is no arsonist to blame—just deepening, widening uncertainty. The private home insurance market in California is not functioning. "The math doesn’t work,” @scrawford.bsky.social
susanpcrawford.substack.com/p/california...
susanpcrawford.substack.com/p/california...
California's insurer of last resort seeks 36% rate hike
As authorities solve one mystery—who set the fire that devastated Pacific Palisades—another deepens: how to make the math work for home insurance in California
susanpcrawford.substack.com
October 11, 2025 at 3:39 PM
There is no arsonist to blame—just deepening, widening uncertainty. The private home insurance market in California is not functioning. "The math doesn’t work,” @scrawford.bsky.social
susanpcrawford.substack.com/p/california...
susanpcrawford.substack.com/p/california...
Reposted by Susan Crawford
We are all going to miss property insurance when it's gone. Mortgage? Not without insurance. Just like that your property value goes up in smoke even if it's not literally burning.
California’s FAIR Plan seeks 36% rate increase as wildfire risk and insurer exits surge. With $650B in exposure but just $1.5B cash on hand, the math no longer works. Homeowners face costly coverage, rising assessments, and a volatile market going forward. open.substack.com/pub/susanpcr...
California's insurer of last resort seeks 36% rate hike
As authorities solve one mystery—who set the fire that devastated Pacific Palisades—another deepens: how to make the math work for home insurance in California
open.substack.com
October 10, 2025 at 4:35 PM
We are all going to miss property insurance when it's gone. Mortgage? Not without insurance. Just like that your property value goes up in smoke even if it's not literally burning.
California’s FAIR Plan seeks 36% rate increase as wildfire risk and insurer exits surge. With $650B in exposure but just $1.5B cash on hand, the math no longer works. Homeowners face costly coverage, rising assessments, and a volatile market going forward. open.substack.com/pub/susanpcr...
California's insurer of last resort seeks 36% rate hike
As authorities solve one mystery—who set the fire that devastated Pacific Palisades—another deepens: how to make the math work for home insurance in California
open.substack.com
October 10, 2025 at 3:30 PM
California’s FAIR Plan seeks 36% rate increase as wildfire risk and insurer exits surge. With $650B in exposure but just $1.5B cash on hand, the math no longer works. Homeowners face costly coverage, rising assessments, and a volatile market going forward. open.substack.com/pub/susanpcr...
Reposted by Susan Crawford
Join @scrawford.bsky.social at @politicsprose.bsky.social in DC today at 5 p.m. for a conversation with Jennifer Anne Moses (YOU'VE TOLD ME BEFORE, @uwiscpress.bsky.social)! It's our Spotlight Event! www.washingtonindependentreviewofbooks.com/features/jen... #booksky
October 5, 2025 at 7:42 PM
Join @scrawford.bsky.social at @politicsprose.bsky.social in DC today at 5 p.m. for a conversation with Jennifer Anne Moses (YOU'VE TOLD ME BEFORE, @uwiscpress.bsky.social)! It's our Spotlight Event! www.washingtonindependentreviewofbooks.com/features/jen... #booksky
Reposted by Susan Crawford
Sellers’ prices are not yet adequately reflecting the burden that higher insurance costs (and thus a limited universe of possible buyers) pose for these houses. @scrawford.bsky.social
susanpcrawford.substack.com/p/whats-a-ho...
susanpcrawford.substack.com/p/whats-a-ho...
What’s a house in LA really worth?
Southern California houses are sitting on the market. Part of the reason is physical climate change.
susanpcrawford.substack.com
October 4, 2025 at 12:43 AM
Sellers’ prices are not yet adequately reflecting the burden that higher insurance costs (and thus a limited universe of possible buyers) pose for these houses. @scrawford.bsky.social
susanpcrawford.substack.com/p/whats-a-ho...
susanpcrawford.substack.com/p/whats-a-ho...
Reposted by Susan Crawford
Climate change is going to hit the economy: “Even though this [crisis] is more regional [than the Great Financial Crisis],” says Burt, “it’s still something that’s pretty terrible.” He wishes we could prepare. Otherwise, he says, we’ll see “disorderly results” similar to what happened in 2008-2011.”
Climate risk hammering LA’s housing market: insurance is harder to get and more expensive, homes stuck on the market, price cuts happening. Insurers and the state’s FAIR Plan reel. Market repricing is underway. Investors and the Fed still looking the other way. open.substack.com/pub/susanpcr...
What’s a house in LA really worth?
Southern California houses are sitting on the market. Part of the reason is physical climate change.
open.substack.com
October 2, 2025 at 9:25 PM
Climate change is going to hit the economy: “Even though this [crisis] is more regional [than the Great Financial Crisis],” says Burt, “it’s still something that’s pretty terrible.” He wishes we could prepare. Otherwise, he says, we’ll see “disorderly results” similar to what happened in 2008-2011.”
Climate risk hammering LA’s housing market: insurance is harder to get and more expensive, homes stuck on the market, price cuts happening. Insurers and the state’s FAIR Plan reel. Market repricing is underway. Investors and the Fed still looking the other way. open.substack.com/pub/susanpcr...
What’s a house in LA really worth?
Southern California houses are sitting on the market. Part of the reason is physical climate change.
open.substack.com
October 2, 2025 at 1:30 PM
Climate risk hammering LA’s housing market: insurance is harder to get and more expensive, homes stuck on the market, price cuts happening. Insurers and the state’s FAIR Plan reel. Market repricing is underway. Investors and the Fed still looking the other way. open.substack.com/pub/susanpcr...
Reposted by Susan Crawford
But if you are investing in coastal real estate in the US and expecting to make money, you are closer to participating in a perp market than you may think. @scrawford.bsky.social
susanpcrawford.substack.com/p/investing-...
susanpcrawford.substack.com/p/investing-...
Investing in coastal real estate? Might as well bet on crypto futures.
Buying a beach house may sound safer than putting your money in the crypto perpetual futures market — whatever that is! But both are risky bets.
susanpcrawford.substack.com
September 26, 2025 at 1:13 PM
But if you are investing in coastal real estate in the US and expecting to make money, you are closer to participating in a perp market than you may think. @scrawford.bsky.social
susanpcrawford.substack.com/p/investing-...
susanpcrawford.substack.com/p/investing-...
Investing in a beach house? You’re betting—just like traders in crypto perpetual futures. There are risks you can’t control, from price swings to back-to-back climate disasters. In 2025, it's closer to speculating than you might think. open.substack.com/pub/susanpcr...
Investing in coastal real estate? Might as well bet on crypto futures.
Buying a beach house may sound safer than putting your money in the crypto perpetual futures market — whatever that is! But both are risky bets.
open.substack.com
September 26, 2025 at 1:06 PM
Investing in a beach house? You’re betting—just like traders in crypto perpetual futures. There are risks you can’t control, from price swings to back-to-back climate disasters. In 2025, it's closer to speculating than you might think. open.substack.com/pub/susanpcr...
Reposted by Susan Crawford
The wildfire version of this is playing out in Los Angeles as we speak. When you burn down 15,000 urban structures, you coat everything downwind (ie the rest of the city) - inside and out - in asbestos, lead and arsenic among other things.
Toxic landfills and storm surges don’t mix: when hurricanes hit, they can unleash leachate, methane, and poisons into water and soil. But bond markets ignore the risks. Column today - open.substack.com/pub/susanpcr...
What happens when major storms hit toxic dumps?
A leaking landfill can ooze toxins, contaminate groundwater, and spew methane gas. Are markets accounting for the growing risks?
open.substack.com
September 20, 2025 at 4:53 PM
The wildfire version of this is playing out in Los Angeles as we speak. When you burn down 15,000 urban structures, you coat everything downwind (ie the rest of the city) - inside and out - in asbestos, lead and arsenic among other things.