CalMatters (and others): “New Fire Maps Put Nearly 4 Million Californians in Hazardous Zones. What Does That Mean for the People Who Live There?”
This article, which was syndicated by outlets across the country, pulls from RFF Fellow Matthew Wibbenmeyer’s research and expertise.
On top of any concerns about insurance, the requirement that property sellers disclose the level of hazard to potential buyers may add to the cost of living in California fire country. A study from 2023 found that homes subject to this disclosure requirement in California sold for 4.3 percent less on average than comparable homes nearby, but just outside the hazard zone.
“I do think that people in the state of California, especially now, are aware of fire risk,” said Matthew Wibbenmeyer, an economist with the environmental think tank Resources for the Future and one of the authors of the study. But having to sign a disclosure form spelling out exactly what that risk entails “really makes this a more salient factor to people’s decision making at the time of sale,” he said.
