Keenan calls the practice of drawing arbitrary lending boundaries around areas of perceived environmental risk “bluelining,” and indeed many of the neighborhoods that banks are bluelining are the same as the ones that were hit by the racist redlining practice in days past. This summer, climate-data analysts at the First Street Foundation released maps showing that 70% more buildings in the United States were vulnerable to flood risk than previously thought; most of the underestimated risk was in low-income neighborhoods.

Jesse Keenan, an urban-planning and climate-change specialist then at Harvard’s Graduate School of Design, who advises the federal Commodity Futures Trading Commission on market hazards from climate change. Keenan, who is now an associate professor of real estate at Tulane University’s School of Architecture, had been in the news last year for projecting where people might move to — suggesting that Duluth, Minnesota, for instance, should brace for a coming real estate boom as climate migrants move north.

That’s what happened in Florida. Hurricane Andrew reduced parts of cities to landfill and cost insurers nearly $16 billion in payouts. Many insurance companies, recognizing the likelihood that it would happen again, declined to renew policies and left the state. So the Florida Legislature created a state-run company to insure properties itself, preventing both an exodus and an economic collapse by essentially pretending that the climate vulnerabilities didn’t exist.

And federal agriculture aid withholds subsidies from farmers who switch to drought-resistant crops, while paying growers to replant the same ones that failed.

The federal National Flood Insurance Program has paid to rebuild houses that have flooded six times over in the same spot.

Similar patterns are evident across the country. Census data shows us how Americans move: toward heat, toward coastlines, toward drought, regardless of evidence of increasing storms and flooding and other disasters.

climate waffler Bret Stephens