{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Climate-Ready Real Estate Investing","title":"The Fallacy of the Safe Market","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/7c0bbf2a\"></iframe>","width":"100%","height":180,"duration":944,"description":"EPISODE DESCRIPTION The map investors drew in their heads when they bought Mediterranean real estate said: this is where the risk isn't. That map was drawn on climate data that no longer describes the climate we have. Episode 9 of Climate-Ready Real Estate Investing is the story of October 29, 2024 — and what the Valencia DANA flood revealed about every trophy geography investors still consider safe.In eight hours, a single weather station in Chiva, Spain recorded 491 millimeters of rainfall — approximately one full year of average precipitation. The Rambla del Poyo became a wall of water before most residents received any alert. At least 230 people died. AEMET had issued its maximum red alert at 9:48 AM — the regional government's emergency phone alert didn't arrive until 8:12 PM. The European Centre for Medium-Range Weather Forecasts estimated infrastructure and economic damage at approximately €16.5 billion — the costliest natural disaster in Spanish history.Through three signals — Signal 5 (the hazard maps were drawn on a broken baseline), Signal 6 (a warming Mediterranean had been compounding DANA intensity for a decade), and Signal 10 (northern European buyer sentiment paused in the hardest-hit communities) — host Jamie Wolf maps what the Valencia event means for institutional portfolios with exposure to Lisbon, Naples, Nice, and any other Mediterranean market that felt stable until it didn't.Episode SummaryOn October 29, 2024, a DANA storm delivered 491 millimeters of rainfall in eight hours to Chiva, Spain — the equivalent of a full year of precipitation — killing at least 230 people and causing approximately €16.5 billion in damage, making it the costliest natural disaster in Spanish history. The flood zone maps for the Horta Sud region were drawn using historical return probabilities that assumed a climate that no longer exists; World Weather Attribution's peer-reviewed analysis found events of this intensity are now approximately twice as likely and...","thumbnail_url":"https://img.transistorcdn.com/edaVSiW7TDXFb72yvtrmHy0LDmwIgx2BDQFH-qalgqw/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9hNmVk/NWUyYzI0MzJhN2Uz/YmQ4MTIxNmRlY2Yz/MzA2ZC5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}