Date of Submission

Fall 2024

Academic Program

Economics

Project Advisor 1

Taun Toay

Abstract/Artist's Statement

This project investigates the socioeconomic impacts of climate vulnerability, with a particular emphasis on wildfire risks and their effects on the housing market. As wildfire hazard zones expand and intensify, they contribute to housing instability and exacerbate economic inequalities among different demographic groups. Despite the growing frequency and costs of these disasters, financial mechanisms like mortgage pricing often fail to account for localized climate risks, exacerbating disparities in housing affordability and access. Using Geographic Information Systems (GIS) mapping, Difference-in-difference and Synthetic Control models, this study analyzes changes in wildfire hazard severity over time and their relationship with socioeconomic factors, including income, housing costs, and racial demographics. By combining spatial and economic data, the research demonstrates how climate vulnerability reshapes housing markets, imposing disproportionate financial burdens on disadvantaged communities. The findings reveal that wildfire-prone areas experience disproportionately higher housing cost burdens, slower growth in homeownership rates, and increased economic pressures on vulnerable communities. By focusing on wildfire risks, this study contributes to a more equitable understanding of the housing market’s vulnerabilities and opportunities for creating sustainable, resilient communities.

Open Access Agreement

Open Access

Creative Commons License

Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.

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