The article discusses the increasing financial risks that climate change poses to homeowners and the broader housing market. As climate-related disasters become more frequent and severe, insurance companies are raising premiums or withdrawing coverage from high-risk areas, leading to a decline in property values. A study by First Street Foundation projects that U.S. home values could decrease by approximately $1.5 trillion by 2055 due to these factors. The situation is exacerbated by events like the recent Southern California wildfires, which have caused unprecedented financial damage and strained the insurance industry. This trend highlights the need for significant investment in resilient infrastructure, stricter building codes, and comprehensive disaster management strategies to mitigate future risks and costs.