Wildfire risk is increasing, likely due to global warming, and its destruction is becoming ever more expensive.
New technology from a Brooklyn-based nonprofit, First Street Foundation, is mapping the threat with house-by-house specificity.Laguna Niguel, California May 11, 2022- Firefighters battle a brush fire at Coronado Pointe in Laguna Niguel Wednesday.Raging New Mexico and California wildfires may offer an ominous outlook for a growing swath of America, and not just in the West.
"We calculate every individual property and structure's risk across the country, be it a commercial building, or be it an individual's home," said Matthew Eby, founder and executive director of First Street Foundation. "What you're able to see from that is that one home might have the same probability as another of being in a wildfire, but be much more susceptible to burning down.
First Street gives every home a unique score and unique probabilities of risk. It did the same for water threats, working withto put a flood score on every property on the home-selling website. That feature is now the second-most clicked map on Realtor.com, behind school district data on K-12 performance.
"On a on a monthly basis, we see tens of millions of impressions against our flood factor data," said Eby. That change helps explains why big firms, like Nuveen Real Estate, are buying the data to inform their investments.
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