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The week’s hottest real estate listings, ranked by climate risk.

Glued to real estate posts and wondering how those gorgeous homes will hold up in the next decades? I have you covered.
Heatmap has partnered with my new climate risk platform, Habitable. Every Friday, we add a climate risk score to the real estate listings featured in the news this week and ask: Could you live here as the climate changes?
Using a model developed by a team of Berkeley data scientists at Climate Check, Habitable scores each property for heat, flood, drought, and fire risk on a scale of 1-10. One represents the lowest risk and 10 is the highest. Our rating for each hazard is based on climate change projections through 2050. (You can check your own home’s climate risk here.)
For today’s edition, I apply the Habitable Index to check the climate risk of houses that tell stories of the people, the past, and the place. While each house tells a unique and singular tale, climate risk plays a big role in the final chapters.

Once upon a time in the resort town of Charlevoix, Michigan, two odd ducks from different centuries shared a vision for a magical house. Earl Young loved fairytales and in the 1920s brought his passion to life by building a house in the shape of a giant, magical mushroom. Almost 100 years later, an engineer reimagined the now dilapidated mushroom house and turned it into a thatched castle whose fairy godmother waved her wand and saved it from flood, drought, fire risk.
The Thatched House might just stay habitable for evermore and all the hobbits lived happily ever after. The End.
Featured in Mansion Global and listed for $5.2 million.

Once the summer vacation spot of President Herbert Hoover and his wife Lou Henry, this historic cottage was built from local redwoods. The Hoovers met at Stanford and married in Monterey. They summered here with their family and dogs until the 1940s.

The house and its memories will remain intact for generations to come as the spot has very low climate risk.
Featured in James Edition and listed for $2.4 million.

A former bootleggers home in Spring Lake, Michigan, keeps a lot of secrets. Once a key stop on Al Capone’s boolegger circuit during Prohibition, the Tudor-style home still has a sealed underground tunnel where liquor was stored after being kept cool in the lake before Al and team picked it up. This home will live to tell the tale again and again since there is low climate risk for this scandalous home.
Featured in Crains Grand Rapids and listed for $1.8 million.

The Hauser mansion in Helena, Montana, is on the open market for the first time and unveils a plot of epic historical non-fiction set over more than a century. This historic house was originally built in 1885 by Montana’s territorial Governer, Samuel T. Hauser, then sold to the Catholic Church in 1913 and then, in 1969, sold back to Governor Tim Babcock. Original details remain: Stained glass panels, built by artisans in Germany, China cupboards made with Belgium crystal and beveled glass mirrors and Tiffany stained glass windows that tell a story of opulent gold-rush style. The drama will continue for many seasons to come as the house will continue to be habitable with minimal overall climate risk.
Featured in Helena Independent Record and listed for $6 million.

Children's book author and living legend Beverly Cleary’s mid-century house is for sale in Berkeley. I can’t imagine who would not want to live in the birthplace of Ramona, Beezy, Henry Huggins, and Ralph S. Mouse? Hopefully their spirit will live on in this very habitable house which is at low risk for flood, heat, and drought and only moderate risk for fire.
Featured in Dwell and just sold for $2.5 million (over asking).

Ivan Doig’s memoir, This House of Sky documents his life on a cattle ranch in rural Montana. Landscape is the hero of this story and in the book, Doig describes how the foundational nature of the land literally shapes him after losing his mother at an early age. The pages are filled with cowboys, sheepherders, and saloons of the American West which still populate the landscape here. And for the first time in more than a century, the actual House of Sky — the 30,000 acre cattle ranch where Doig grew up — is for sale. Asking price is $58.75 million. This ranch is in a rapidly changing community that is at extreme risk of drought, so its long-term habitability will be challenging. It’s going to be a hard book to finish reading if you don’t like sad endings. .
Featured in WSJ and listed for just under $59 million.

The interiors derail the plot of this Las Vegas home so get ready for a wild ride. The elevator pitch: “Las Vegas Pirate Ship Club With An Attached Indiana Jones Casita Edition.” Think: ‘someone scouring the high seas in search of legendary treasure’ in a place where ‘the spirit of piracy comes alive.’ With a DJ booth designed like a pirate ship, the house is as astonishing as is the drought and heat risk. This will not end well.
Featured in Zillow Gone Wild and listed for $349,000.
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That means more electrification, more stockpiling, and more coal.
Much of the world — or at least much of Asia — seems to be responding to the energy stress caused by the Iran War by attempting to reshape itself in China’s image.
The oil, refined products, and natural gas that is supposed to be flowing through the Strait of Hormuz was largely destined for Asian countries, which are now learning a harsh lesson in the dangers of foreign fossil fuel dependence.
One country whose economy has been relatively resilient to the crisis, however, is China.
That’s despite the fact that China is the world’s second-largest consumer of oil (and its largest importer) and its third-largest consumer of gas (and largest consumer of liquified natural gas). But it has not seen the same type of immediate crisis that other Asian energy importers have. It may be the No. 1 customer of oil coming through the Strait of Hormuz (and especially Iranian oil, which is still flowing), but its main policy adjustment the government has made since the United States and Israeli attack has been to limit exports of refined products. It also came into the crisis with stockpiles of oil estimated at 1.4 billion barrels, more than three times the amount of oil the International Energy Agency coordinated the release of.
In the short run, many Asian countries, especially poorer ones, are embracing energy use restrictions, including limitations on driving and raising temperatures in government buildings, while some richer countries are able to increase supply by rebooting nuclear plants and upping capacity limitations on coal-fired power plants.
In the longer run, several countries are making investments in energy sources that are less dependent on imported fossil fuels. In Vietnam, the developer behind a planned liquified natural gas project asked the government to allow it to instead build a solar and batteries project. The Southeast Asian nation also inked a deal with Russia to work on its first nuclear power project.
There’s also early data of bottom up as well as top down embracing of electrification, with exports from Chinese EV juggernaut BYD increasing and “bustling showrooms across Asia,” Bloomberg News reported.
This has largely been China’s playbook. China’s energy policy has seen huge pushes in electrification, renewables, and clean energy, both at home (38% of its electricity comes from clean sources, and it’s responsible for more than half of world solar and wind capacity additions) and abroad, where China is the leading supplier of solar panels, batteries, and electric vehicles, and has made deliberate efforts to dominate global supply of clean energy technology through exports.
But the country is not pursuing a crash decarbonization policy in order to bring emissions down as fast as possible, in line with global targets. Instead, as Heatmap’s Robinson Meyer and Lauri Myllyvirta of the Centre for Research on Energy and Clean Air explained on a recent episode of Shift Key, China’s energy policy is based around several goals, some of which line up with decarbonization, and some of which don’t.
The first is energy security, and specifically mitigating dependence on seaborne imports of fossil fuels, which can mean both stockpiling oil and embracing renewables. The second is domestic air quality, which means strict particulate pollution policies, moving heavy industry closer to power sources in the south and west of the country and away from large cities in the east, and seeking to replace coal home heating with natural gas. And the third, as Myllyvirta put it, is “wanting to make sure that China has technological leadership [and] market leadership” in the energy technologies of the future, which can explain the industrial policy efforts around solar, batteries, and electric vehicles and their development into world-leading export industries.
This is also an approach to energy policy that’s perfectly consistent with burning and buying a lot of fossil fuels, as many Asian countries are looking to do today, with coal utilization going up as countries scramble to find new sources of imported natural gas.
Several energy analysts have forecasted that China’s experience of the Iran crisis will lead to increased stockpiling worldwide, and thus become a new source of incremental demand for oil, even if global demand for oil in transportation plateaus or falls.
“Countries that have been building their strategic storage — most notably China — look prescient today. Others may respond by starting to do the same,” a team of Morgan Stanley analysts wrote in a note to clients in the early weeks of the Hormuz crisis. “On paper, that is ‘inventory building.’ In practice, it behaves like incremental demand: persistent buying on dips, greater willingness to pay for security of supply, and a higher floor under the price distribution than we assumed before the Strait went quiet.”
And you can’t build stockpiles of oil to cushion disruptions to global trade without buying the oil in the first place. Those stockpiles presume that your economy maintains some base-level dependence on oil, which has become increasingly undesirable of late. China is also investing heavily in the coal-to-chemical sector, using coal as a feedstock for petrochemicals instead of oil or natural gas, which is carbon-intensive in the extreme.
Other countries are looking in the short run to increase coal output. While China has a largely domestic supply of coal, there are fewer bottlenecks for seaborne coal like the Strait of Hormuz for oil, as the former is available at scale from several countries (Indonesia, South Africa, Australia) that are not stuck behind a narrow and geopolitically volatile strait.
The other short-term lever some Asian countries can pull is nuclear power. Taiwan is looking to restart nuclear plants that it shut down last year, while several Southeast Asian countries had already made plans to build up their nuclear power resources. And earlier this week, Sri Lanka announced plans to rush forward a solar and batteries project and to look abroad for funding for a hydroelectricity project.
To the extent that any of these countries now experiencing energy hardship may be able to imitate the Chinese model, it will come at a substantial cost, not just in building up stockpiles that may go unused or infrastructure projects that are abandoned, but in closer links — and even dependency on outside sources for energy technology, cars, and critical minerals — on a rising regional hegemon instead of the vagaries of the world oil and gas market.
Countries may try to become more Chinese, but to China, they may just be customers.
Current conditions: Repeated rounds of storms will dump up to 4 inches of rain from Texas to the Great Lakes • Jerusalem, where Passover just began for Jews, is wrapping up a rain storm, with sunny skies and roughly 65-degree Fahrenheit weather predicted throughout the duration of the eight-day holiday • A Saharan dust storm is turning the sky over parts of Greece an eerie orange and red.
At 6:35 p.m. ET last night, I watched my daughter reach her hand up at the image on our television of one of the most powerful rockets the United States has ever launched, carrying America’s first lunar crew in half a century. Looking at her stare up in wonder, I prayed that the greatest achievements of our civilization lie ahead of us, forged not of zero-sum contests between adversaries but peaceful competition among rivals. Parenthood makes it difficult not to think in such dramatic terms. But there’s the fact, too, that this successful launch puts us one step closer to something extraordinary: A nuclear power plant on the moon. As I told you back in January, the Department of Energy set a goal of installing a nuclear reactor on the moon in the next four years. The mission will slingshot the crew of four astronauts — commander Reid Wiseman, pilot Victor Glover, mission specialist Christina Koch, and Canadian Space Agency astronaut Jeremy Hansen — around the moon and back to Earth. The subsequent two U.S. launches — Artemis IV and V, which are scheduled for 2028 — will bring crews to the lunar surface. “This time, the goal is not flags and footprints,” NASA Administrator Jared Isaacman said last week, according to E&E News. “This time, the goal is to stay.” NASA aims to have a nuclear reactor ready to make the journey to the moon by the end of the decade.
One of the country’s leading next-generation nuclear developers is also stepping up its ambition. Executives from TerraPower, the Bill Gates-backed sodium reactor startup, held talks with the utility Evergy about a potential power plant in Kansas this week. “We’re not ready to announce any sites. Multiple communities in Kansas have kind of raised their hand and said they’re willing to host a Natrium power plant,” TerraPower CEO Chris Levesque told Fox4 Kansas City.
Japan is turning its nuclear reactors back on, looking at building wind turbines, and relaxing rules on coal-fired stations to bolster its electricity supply as the Iran War halts the flow of liquified natural gas through the Strait of Hormuz. But the country invested a lot in LNG infrastructure as the fuel replaced atomic energy following the shutdowns triggered by the 2011 Fukushima disaster. So it’s also looking for new supplies. The Japan Organization for Metals and Energy Security, a government-owned investor, launched a new initiative Wednesday to offer a return on LNG investments. The industry is already abuzz. In just the past week, at least two Japanese companies have made big LNG investments.
On Wednesday night, three hours after the rocket launch, President Donald Trump gave a televised speech highlighting what he described as U.S. achievements in the Iran War and setting the stage for the conflict to wind down. But he offered no specific timelines, and oil prices rose steadily throughout the speech.

U.S. coal exports fell in 2025 for the first time in four years as overseas sales of thermal coal dropped by 18% and metallurgical coal by 11%. If you thought this could be a sign of Trump’s coal revival taking hold, think again. The plunge, according to the Energy Information Administration’s latest report, “largely reflects a 92% decrease in exports to China in 2025 compared with 2024, after China imposed a 15% additional tariff on imports of U.S. coal in February of last year and 34% reciprocal tariff on imports from the United States in April.”

U.S. production of crude, on the other hand, surged by 3%, or 350,000 barrels per day, in 2025. That set a new annual record of 13.6 million barrels per day, the EIA found in a separate analysis. If that’s “drill, baby, drill” in action, then the catchphrase deserves an asterisk indicating that the drilling is taking place in the same locations as before. The number of active rigs per month in the lower 48 states was 5% less than in 2024, and 1% fewer wells were drilled. But efficiency improvements at existing wells resulted in an increase of crude.
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In November 2023, the nation’s leading effort to deploy new small modular reactors, developer NuScale’s project supplying electricity to the Utah Associated Municipal Power Systems, collapsed as inflation sent costs soaring. Oregon-based NuScale, as I have reported for Heatmap, has struggled to make major progress since. Now a report released this week by the Energy Department’s inspector general has determined that the Office of Nuclear Energy “did not effectively manage the project.” In total, the project wasted about $183 million in federal funding “without key results,” including $143.5 million that the Office of Nuclear Energy gave to NuScale up front without any serious oversight or conditions.
Last month, I told you about GE Vernova and the Japanese company IHI running tests to see whether a gas turbine could run on ammonia, the green version of which is made without producing carbon emissions. If that could work, green ammonia could offer a way to eliminate emissions from gas plants without rendering relatively new turbines suddenly worthless. But green ammonia has traditionally cost much more than the natural gas-based gray ammonia. Not anymore, at least not in Asia. The price of green ammonia is now cheaper than that of gray ammonia due to the ongoing conflict in Iran, Hydrogen Insight reported.
How’s this for a cursed AI prompt: Remake Frank Sinatra’s “The Coffee Song” but make it about rare earths. The U.S. just secured a deal with Brazil to give $565 million in a loan from the U.S. International Development Finance Corporation to produce rare earths at Serra Verde’s mine. The move comes right after the U.S. managed to snatch up one of the few Congolese cobalt miners that China didn’t already control.
Current conditions: Snow is returning to the Upper Midwest, with as much as a foot set to dump on Duluth, Minnesota • Crater Lake National Park in Oregon just registered the lowest snow water equivalent ever recorded for this time of year • Pago Pago, the capital of American Samoa and the United States’ southernmost city, is weathering days of intense thunderstorms.
Big news from over here at Heatmap: Today, in partnership with the Massachusetts Institute of Technology and CleanEcon, we launched the Electricity Price Hub, a new public data platform that provides monthly, utility-level estimates of residential electricity rates and bills across the United States going back to 2021, broken down by generation, transmission, and distribution costs.
To kick off the new feature, we have:

Total residential electricity costs as a fraction of personal expenditure came out to 1.25%, according to new data from the Lawrence Berkeley National Laboratory. That would be near an all-time low, but slightly above 2024 levels. Total residential electricity costs as a fraction of total income was also near an all-time low, at 1%. Once again, that metric was also flat in recent years with a slight increase in 2025.
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Last week, Slovenia became the first European Union nation to introduce fuel rationing amid the energy shock from the Iran War. Now the European Commission has begun urging Europeans to work from home and drive and fly less. Brussels’ top governing body also pressed countries across the bloc to speed up construction of renewables. “Even if … peace is here tomorrow, still we will not go back to normal in the foreseeable future,” Dan Jorgensen, the EU’s energy chief, said in a speech to the energy ministers from all 27 nations, according to Politico.
On Tuesday, Secretary of the Interior Doug Burgum assembled the so-called “God Squad,” a rarely-used committee with the authority to waive Endangered Species Act protections under exceptional circumstances. In this case, Burgum gathered the panel to exempt federally-permitted oil and gas drilling in the Gulf of Mexico from the landmark conservation law on national security grounds. The move came in response to a request from Secretary of Defense Pete Hegseth. “It took the Trump administration 15 minutes to wipe our crucial environmental safeguards in the Gulf of Mexico,” Jimmy Tobias and Chris D’Angelo wrote in the conservation newsletter Public Domain yesterday. “It took them 15 minutes to condemn an endangered animal to possible extinction. It took them 15 minutes to play God.”
The Trump administration has previously given credence to species conservation arguments against wind energy, both onshore and off. As my colleague Jael Holzman has covered, the administration has used laws protecting eagles to extract information and fines from wind farms, and has appeared to follow a playbook laid out by anti-offshore wind activist groups that includes leveraging marine species protections to block development.
General Motors has once again idled production at its Factory Zero electric vehicle plant in Detroit as demand wanes. The move comes less than three months after a mass layoff and reduction to a single shift, Automotive News reported. The facility was part of a $2.2 billion investment in 2021 to manufacture the GMC Hummer EV and Sierra EV, the Chevrolet Silverado EV, and the Cadillac Escalade IQ electric SUV. The latest temporary layoff impacts 1,300 workers, who were told to stay home starting March 16 and return to work on April 13, the United Auto Workers told InsideEVs.
Just a few years ago, you’d be mistaken for thinking this was an April Fool’s Day joke: New England is going atomic. The governors of all six states signed onto a statement Tuesday outlining steps for what they said is to “strengthen the region’s energy reliability, affordability, and long-term supply” of electricity. “New England has a long tradition of collaborating on regional energy matters. As governors, we are committed to safeguarding our collective energy future through advancement of a diverse energy strategy that includes nuclear power, a pillar of New England’s electric system,” the governors of Massachusetts, Connecticut, Maine, New Hampshire, Rhode Island, and Vermont wrote.