PORTLAND PRESS HERALD • May 24, 2025
Many homes are uninsurable because of the rising ocean, flooding and wildfires. Insurance companies can’t sustain the losses and remain solvent. These properties are not insurable. This is what happens to capital holdings from ignoring climate change. A property without insurance means no bank mortgage. When the insurance industry collapses, then the mortgage industry collapses, property values collapse and property taxes collapse, and then … what’s next? Climate change is not a hoax. Deal with it. That’s a capital idea. ~ Patrick Quinn, Winterport