People overestimate the impact of climate change. Yes it will lower GDP, destroy property, and weather will kill more people, but most nations are vastly more wealthy than they where even 50 years ago and that represents a lot of slack before people end up starving etc.

People will pay more on food which will mean they can't spend as much on rent or a mortgage which will lower the value of real estate. However, that's just another shift in a long line of them.

Even say a 20% drop in world GDP over 20 years, which would significantly increase suffering, is less dramatic than generally assumed.