Zillow’s new climate-risk assessment tool

The Street

TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and Zillow’s new climate-risk assessment tool.

Transcript

00:00I'm Conway Gittins reporting in New York. Here's what we're watching on the street today.

00:04A tame inflation report bolstered Wall Street's view that this economy is set up for more interest rate cuts.

00:11Investors will get fresh clues on the economy in the coming week

00:14with the release of the all-important monthly jobs report.

00:17Federal Reserve Chairman Jerome Powell might provide some insight in his speech

00:21and there will be monthly updates on the factory and services sector.

00:24Meanwhile, on the corporate front, Nike posts its first quarterly results since announcing a new CEO.

00:31In other news, as homebuyers continue to grapple with high interest rates and low inventory,

00:37Zillow is introducing a new feature to try and alleviate some of the stress that comes with purchasing a home.

00:44Zillow's new climate risk tool will provide information about potential hazards like floods, fires and air quality.

00:51According to Zillow, quote, on for-sale listings,

00:54buyers will find a climate risk section that provides property-specific data.

00:59Each section shows how a specific risk might impact the home now and in the future

01:04while also offering information on insurance requirements.

01:08Zillow has partnered with First Street, a company which specializes in climate risk financial modeling,

01:14in order to provide information to its user base.

01:17The hope is to provide a more accurate picture of what buyers will pay

01:21taking into account things like flood insurance when buying a home.

01:25Zillow claims 80% of prospective homebuyers now consider climate risks when choosing where they will live.

01:32That'll do it for your daily briefing.

01:34From New York, I'm Conway Gintens with The Street.

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