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Sea Level Rise Already Causing Billions in Home Value To Disappear (axios.com)
Sea level rise may seem like a far-off threat, but a growing number of new studies, including one out this week, shows that real estate markets have already started responding to increased flooding risks by reducing prices of vulnerable homes. From a report: According to a new report by the nonprofit First Street Foundation, housing values in New York, New Jersey and Connecticut dropped $6.7 billion from 2005 to 2017 due to flooding related to sea level rise. Combined with their prior analysis of 5 southeastern coastal states with $7.4 billion in lost home value, the total loss in 8 states since 2005 has been $14.1 billion. A recent slew of studies show how the housing market is responding to the increasing risk of coastal flooding -- with billions in value disappearing as investors wake up to the systemic risk.
Climate change is yet another of those topics that brings out the worst in this "community". Morons either outright denying the reality of CC and its horrific impacts, or other morons trying to prove how smart they are by saying things like, "The real problem isn't sea level rise its the destruction of marshes."
This place could be so much more than it is, if it weren't for the mental masturbators who can't simply accept the view of the overwhelming number of experts in a field.
They're not responding to sea level rise, they are responding to the expiration of the federal flood insurance program.
As long as the federal flood insurance program was in place, people whose houses got flooded simply could rebuild a shiny new house at taxpayer expense again and again.
As for sea level rise, it is happening and going to continue at roughly the same rate for a couple of centuries at least, no matter what we do, so that can't be the cause of sudden changes in coastal real estate prices. Whatever the threat may or may not be, it has been priced in for years.
Furthermore, homes depreciate over about 30 years, so anything beyond that horizon is not worth worrying about.