Our results suggest that pure market-driven processes can cause shifts in demographics in climate-sensitive hotspots placing low-income households further at risk...

This paper introduces an economic agent-based model of an urban housing market. Our Risks and Hedonics in Empirical Agent-based land market (RHEA) model captures natural hazard risks and environmental amenities through hedonic analysis, facilitating empirical agent-based land market modeling.

Property prices are affected by changing market conditions, incomes and preferences of people. Price trends in natural hazard zones may shift significantly and abruptly after a disaster signalling structural systemic changes in property markets.