The Economics of Toxic Mold: How Money and Mold are Intertwined

Toxic mold is expensive. It can cost you your health and quality of life, and drain your finances beyond belief. If you’re part of any of the toxic mold support groups on Facebook, you might notice that most people have a familiar story: they are sick, they found mold in their home, they either moved or remediated, and didn’t get better. Many of them have gone through this cycle again and again, and now their relationships are strained or severed, they’ve burned through savings and are in debt, they have nowhere safe to live, their health is in a dire state, and they’re in crisis mode. It’s heart-wrenching to watch and even more devastating to live it.

Seeing so many people with a similar story made me think that there’s got to be something bigger here that’s working against people getting out of mold and getting healthy. And that’s because the financial aspects of toxic mold run deeper than people’s hearts and wallets. So, let’s explore three areas where toxic mold and money are deeply intertwined.

The Costs of Getting Out of Mold

A substantial amount of money is needed to test a home for mold, remediate or move, and replace possessions. And I do mean substantial: An Environmental Relative Moldiness Index (ERMI) test costs at least $240, and remediation for a crawlspace from the most highly esteemed remediation company in the country (the only company who will guarantee their remediation to the standards needed for people with CIRS to recover) runs between $50,000 to $100,000. Another company told me it would be $30,000 if they just focused on the “biggest concerns”. None of that includes the rebuild following remediation, costs to move out of the house for a few weeks while the remediation is completed, cleaning, disposal of porous possessions, or replacement of possessions.

That’s a significant expense, especially given that the median amount of savings for Americans is $5,300. Of course, the numbers are even more concerning when we break it down by race and ethnicity: the median amount of savings stashed by Black families is $1,510, and $1,950 for Latino families. With the costs of high quality indoor air quality being comparable to earning a college education, money is a disturbingly essential determination in accessibility.

Moving certainly isn’t affordable or easy to navigate right now either as the real estate market is soaring with high costs and ultra competitive offers that often have no contingencies. The prices for rentals just hit an all time high nationally in January 2022, and in March 2022, housing prices reached an all-time high for homebuyers. But regardless of price, it’s necessary to be able to test any potential new home to ensure you’re not moving from one disastrous home to another when you’re sick from mold, and the market isn’t allowing time for testing.

Mold and Money at the Macro Level

Let’s zoom out and look at this at the macro level. While the numbers are tough to swallow for mold remediation, I do not blame the remediation companies. Much like if you were paying for medical care or a car accident without insurance, the costs are astronomical. Since there are very few states that allow insurance coverage for mold and the states that do have several exclusions and strict guidelines, and there are no federal regulations in relation to mold for indoor air quality, we’re on our own to wade through this messy debacle (If you’re curious, Google “federal guidelines for indoor air quality mold” and you will see the EPA, CDC, OSHA, and WHO decline responsibility for indoor air quality standards).

The speculated reasoning for a lack of standards that I’ve heard many times over is money. Not only would acknowledging that mold is a problem be a gargantuan expense for the construction and insurance industries to address and make amends, it would impact the medical industry and potentially address some of the chronic illnesses many people are challenged to manage. That would mean less money spent on medication, which is quite the booming business, and certainly highlights the disparities between the people who own the medication companies and the people that rely on medication. If you’re curious to learn more, I urge you to check out this podcast episode: Exposing Mold: The Politics Behind Sick Building Syndrome with Dr. Russe.

Mold Is An Unregulated Industry

Because the industry is grossly unregulated, unproven and unhelpful treatments are rampant and heartbreakingly common. Without federal standards determining and enforcing acceptable levels of mold in indoor air quality, there is no formal credentialing for mold inspectors or remediators. Can you even imagine seeing any other sort of professional without formal, in-depth training and qualifications?! I would not put my life on the line with a “doctor” who took a few hours of online training to “learn their craft”! Nor would I want a therapist, mechanic, teacher, veterinarian, masseuse, or financial advisor who had so little study and training in their field, let alone a field that does not actively engage in widely accepted, peer-reviewed research. Here is a website that shares information about research, but I guarantee that these data and findings are not being implemented by average mold inspectors and remediators.

Without credentialing, inspectors and remediators can use the cheapest intervention possible, often either dismissing toxic mold as “no problem,” or addressing only what can be seen on the surface. Bleach appears to be the standard treatment for mold, and you’ll find it in most spray products you can buy at the store, but it simply adds more moisture to a moisture problem and perpetuates the mold. Dry fogging is another popular intervention that doesn’t resolve mold problems. This intervention fails to contain, remove, and kill mold, and can add another chemical to your home environment that ultimately doesn’t improve air quality.

Why This Matters

Thinking about how money and mold are connected is an intellectual pursuit that gives us a moment to pause and take stock of the forces that are keeping so many people stuck in crisis mode with their health, relationships, and quality of life on the line.

This is also important because toxic mold is a social justice issue, and we have to acknowledge the financial aspects that keep people from getting better and getting out of mold if we ever hope to make change.

Where To Go From Here

1. Start with the basics of toxic mold if you’re new here.
2. Visit this post if you’re wondering if you might be sick from toxic mold and have Chronic Inflammatory Response Syndrome.
3. Check out this post if you’re wondering how to check your house for mold.
4. Read this post if you found mold and you’re not sure what to do next.
5. When you can, lobby your local legislator for air quality standards that align with the IICRC (Institute of Inspection, Cleaning, and Restoration Certification) and for more research on mycotoxins and health.

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