Federal Climate Funding Gets Pulled — And Billions in Real Estate Risk Suddenly Spike
Real estate investors across the U.S. are waking up to a financial shockwave: The federal government has abruptly halted a major FEMA resiliency grant program, creating billions of dollars in unprotected real estate exposure just as extreme weather events intensify nationwide.
For years, the Building Resilient Infrastructure and Communities (BRIC) program helped cities fortify themselves against flooding, wildfires, earthquakes and climate-related threats. But with the program now canceled and nearly a billion dollars in unspent funding being reclaimed, thousands of properties — and the communities surrounding them — are left scrambling.
A Sudden Funding Freeze That Caught Cities Off Guard
“Dozens and dozens of communities… suddenly in a lurch with the gap,” said former FEMA coordinator Victoria Salinas.
Since 2018, BRIC grants covered between 75% and 90% of resiliency project costs. Local governments relied on this support to modernize infrastructure and protect neighborhoods. Now, many are facing half-finished projects — and drastically higher out-of-pocket expenses.
Twenty states have already sued to reverse the shutdown, but for the moment, the burden shifts to local municipalities — and ultimately, to commercial property owners.
Commercial Real Estate Faces Mounting Pressure
NASA reports that severe weather events have doubled since 2024 compared to previous decades. Insurance premiums are rising fast, with projections of an 80% increase by 2030.
Without federal mitigation support, insurance carriers may restrict coverage or exit high-risk markets altogether.
“When exposure increases, there’s volatility… Some underwriters might pull out completely,” said Danielle Lombardo of Howden U.S.
Areas like Florida feel this pressure intensely. Landlords have already endured a 10% year-over-year rise in insurance costs per apartment from 2017 to 2023.
Cities Left Searching for Financial Lifelines
New York has over $224 million in open BRIC projects, plus seven awarded projects now at risk. Its $228.8 million Seaport Coastal Resilience Project — designed to protect 91 buildings — is now uncertain, leaving entire communities vulnerable.
In High Point, North Carolina, an aging sewer system leaks tens of thousands of gallons of wastewater during storms. The city spent millions preparing its BRIC application — and now must start over.
“It’s made us get back to the drawing board,” said Rachel Collins of Business High Point, “but… think on a broader scale of collaboration.”
Creative Financing: Cities Explore New Models
Communities nationwide are experimenting with new funding vehicles such as:
State-issued environmental bonds
Braided funding models combining grants, philanthropy and city capital
Public-private partnerships to distribute resiliency costs
These approaches show promise — but they’re slower, more complex and require tight coordination.
Why This Matters for Real Estate Professionals
Every dollar invested in resilience saves $13 in post-disaster recovery, according to the U.S. Chamber of Commerce. Without federal funding, the responsibility shifts directly to investors, developers and property professionals to understand and manage climate risk.
For those working in real estate, mortgage, insurance or finance, climate literacy is no longer optional — it’s a competitive advantage.
Preparing Professionals for a Changing Market
Cameron Academy equips real estate and licensed professionals with the knowledge needed to navigate today’s rapidly evolving climate and insurance challenges.
Whether you’re starting your career or expanding your credentials, Cameron Academy provides industry-leading education across real estate, mortgage, insurance and other fields — helping you stay informed, adaptable and competitive.
Federal dollars may be disappearing — but the urgency to protect communities, safeguard properties and elevate professional preparedness has never been more critical.
More Articles
Getting licensed or staying ahead in your career can be a journey—but it doesn’t have to be overwhelming. Grab your favorite coffee or tea, take a moment to relax, and browse through our articles. Whether you’re just starting out or renewing your expertise, we’ve got tips, insights, and advice to keep you moving forward. Here’s to your success—one sip and one step at a time!
In an era of global pandemic and economic downturn, the real estate market has emerged as an unexpected hero. House prices have been on an unstoppable rise, but is this a golden opportunity for investment or a crisis waiting to happen? Despite challenging economic conditions, potential buyers are still willing to invest in real estate, thanks to a limited supply of housing and low interest rates. Investing in real estate can offer numerous benefits, such as potential long-term appreciation, rental income, and tax advantages. However, it also comes with risks, including market volatility, property maintenance costs, and the possibility of economic downturns. It is crucial for potential real estate investors to carefully evaluate the benefits and risks before making investment decisions. At Cameron Academy, we provide comprehensive real estate education and resources to help individuals navigate the ever-changing market.
The Australian housing market is making waves with its relentless surge in house prices, defying global economic downturns and raising eyebrows. Amidst the pandemic and economic challenges, property prices in Australia are on an uphill climb. But is this a golden opportunity for investors or a ticking time bomb? Dive into this comprehensive analysis as we unravel the factors driving the unstoppable rise of house prices in Australia, and what it means for potential investors and the economy at large.
Welcome to the wild side of real estate! We're about to embark on a journey through the extraordinary, inspired by the upcoming HGTV series, "Zillow Gone Wild." This series, inspired by the popular Instagram account, promises to showcase the most unconventional and awe-inspiring properties on the market. In this article, we'll delve into the unique features of these homes, the format of the series, and the inventive ways these one-of-a-kind properties are marketed. So buckle up as we unveil the eccentric and extraordinary in the world of real estate.
Target marketing is a powerful tool for realtors to identify and attract their dream customers. By focusing on a specific target audience, tailoring marketing efforts, and leveraging geographic online farming, realtors can stand out in the competitive real estate industry. This comprehensive guide explores the benefits of target marketing, the steps to identify your target customer, and the implementation strategies to attract your next customer. It also highlights the role of target marketing in agent branding and establishing yourself as an industry expert. Now it's time to take action and implement these strategies in your real estate business. By understanding your target audience, delivering personalized marketing messages, and continuously refining your approach, you'll be on your way to attracting your dream customers and achieving long-term success.
Unmarried and buying a house? Understand the legal implications and protect your interests. Unmarried couples face unique challenges in homeownership. It's vital to have open discussions about finances before making such a significant commitment. A cohabitation agreement can be a lifesaver, ensuring a smooth process in case of a breakup or financial hardship. Understand these key points to navigate the complexities of homeownership and protect yourself in the long run.
When it comes to buying or selling a property, understanding the difference between a "real estate agent" and a "Realtor" is crucial. While both are licensed to represent buyers or sellers in real estate transactions, a Realtor is a member of the National Association of Realtors (NAR) and adheres to a strict code of ethics emphasizing honesty, integrity, and fair treatment. This commitment to the highest professional standards sets Realtors apart. Choose wisely, as the professional you select plays a significant role in your real estate journey.
