Climate disasters could push foreclosures to $5.4B

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Senior living industry grapples with growing number of aging, obsolete communities link

• About 45% of senior living communities in the U.S. are at least 25 years old, with an average age of 24 years. Aging buildings often lack modern amenities and infrastructure, making them less appealing to today's seniors.

• Developers face barriers like outdated layouts with too many studios, low ceilings, and shared bathrooms. Properties in places like Summerville, SC, and San Antonio, TX, are being repurposed into affordable or workforce housing due to declining occupancy.

• The industry is falling behind on new construction, with timelines stretching to 29 months and demand projected to exceed supply by 2030. Experts say development needs to ramp up 3.5 times faster to meet the incoming wave of baby boomers.

Climate disasters could push foreclosures to $5.4B by 2035 link/link

• Climate-driven foreclosures are projected to rise from $1.2 billion in 2024 to $5.4 billion by 2035. That would represent nearly 30% of all foreclosure losses, up from just 6.7% today.

• Flooding causes the highest foreclosure risk, with damaged homes seeing a 40% average surge in post-event foreclosures. Homes hit by wildfire or hurricane wind are less likely to foreclose due to direct insurance payouts to lenders.

• In 2023, insurers reported $546.2 billion in weather-related losses, driving up premiums and forcing exits from high-risk markets. Each 1% rise in insurance premiums leads to a 1.05% jump in foreclosure rates nationwide.

Student housing holds steady despite tariffs and economic jitters link

• Pre-leasing hit 73.2% across 200 tracked schools in April, a 140 basis point rise from 2024. But operators say it's been a tougher lease-up season, forcing rent cuts to fill beds.

• Rents dropped 2% year-over-year to $917 per bed, following a 6.4% decline over two seasons. Seventeen markets still posted rent hikes of 10% or more, while others lagged due to soft multifamily markets and new supply.

• Enrollment for fall 2024 is up 1.8%, but new supply is slowing, with just 28,454 beds expected in 2025 versus 44,746 in 2023. Schools like Alabama, Mizzou, and Virginia Tech are over 90% pre-leased, while smaller private and tertiary schools lag below 50%.

Home-price trends in Opportunity Zones link

• Home prices rose in 59% of Opportunity Zones year-over-year, while the national median climbed 8%. In nearly half of these zones, prices grew more than 10%, showing strong growth despite being low-income areas.

• Median prices were below $200,000 in almost half the zones, and under $150,000 in 31% of them. Midwest zones were the most affordable, with 61% reporting home values under $175,000.

• Indiana, New York, and Missouri led in annual price gains across zones, with 75%, 72%, and 70% of their Opportunity Zones rising respectively. By contrast, growth was weakest in Nevada, Washington, and Florida.

Walmart’s Price Increases Signal Broader Retail Response to Tariffs link

• Walmart will begin raising prices by late May, with a sharper impact in June, due to tariffs that—even after a reduction—still sit at 30%. Everyday essentials like imported bananas and car seats will be affected, not just specialty items.

• As the biggest U.S. importer of containerized goods, Walmart’s pricing shift is expected to trigger similar hikes across major retailers. Companies like Amazon’s third-party sellers are already following suit.

• Despite political pressure to absorb the costs, Walmart says narrow profit margins make that unrealistic. The tariff burden has reached a point where even efficient retailers can’t shield shoppers from higher prices.

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