Bloomberg: The 30-Year Home Mortgage Isn’t Designed for Climate Chaos
It sounded like artillery, an infiltration of a quiet suburban community in the dead of night, as Kevin Pelley stood in the dark in what was left of his yard on a bank of the Puyallup River. A combat Army veteran who served in Kuwait and Iraq, Kevin watched the storm for hours. An atmospheric river was filling the actual river, causing a flow of over 16,000 cubic feet per second, or 50 times the prior month’s average. Water washed away much of his backyard. When a large piece of soil cleaved off into the river, it fell with the force and noise of gunfire.
By the time day broke in his town 35 miles south of Seattle, the foundation of the Pelley home was teetering over the bank of a newly formed cliff. The river that used to be about 100 feet behind their house was now under it. A code enforcement officer from Pierce County placed a yellow “Restricted Use” tag: the property was no longer safe to enter, except for analysis by engineers.
Last Updated: 25.Dec.2024 12:34 EST
