Climate justice and home-buyout programs: renters as a forgotten population in managed retreat actions

For most Americans, the value of their home represents the largest portion of their total wealth; accordingly, homeowners even in very poor areas can obtain some benefit from a home-buyout program as a means to move away from risk and begin again. Renters, however, are an overlooked population during implementation of post-disaster retreat programs that predominantly focus on homeownership. Racism is a substantial factor in homeownership disparities between black and white Americans that can be traced to the post World War II GI Bill-a law that delivered to returning veterans federally-backed home mortgage loans, loans that were largely denied to returning black soldiers. These inequities have not been overcome, leaving minority renters as some of the most vulnerable populations after a disaster. Indeed, some renters may be substantially worse off after a buy-out program is implemented in an area. Renters represent an atypical "trapped" population when it comes to relocation programs because they may be economically forced to move to even more climate vulnerable housing. This paper will explore post-implementation impact on renters of home buy-out and similar retreat programs. We will examine the factors that contribute to this cycle of failed re-location efforts for this sub-group such as the lack of retreat policies aimed at assisting low-income renters, lack or limitations of home or rental insurance, the absence of "duty to warn" obligations from landlords to inform renters of repeated flooding risks at the property, and market failure to encompass climate risks in rental pricing.