Someone has finally dropped the word "subprime" into a discussion of #mortgages and #ClimateChange.
" There’s a new kind of #ToxicAsset emerging in property portfolios. The number of homes in what you might call “#subprime” locations is rising and, in some parts of the world, property value—like a crumbing coastline—is at risk of erosion. Lenders are getting noticeably more reluctant to lend against these assets."